Published on November 19, 2009 at 6:05 AM
Sinovac Biotech Ltd. ( SVA), a leading developer and provider of vaccines, announced today that it has filed a shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission.
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, "The shelf registration is intended to provide us with greater financial flexibility to execute our growth strategy over the next several years. It is important to note that we do not have immediate plans to raise capital."
If and when the shelf registration statement on Form F-3 is declared effective by the SEC, Sinovac may from time to time offer and sell up to 10 million common shares. The use of the net proceeds from the sale of the common shares will be set forth in the applicable prospectus supplement filed each time common shares are sold.
The registration statement has been filed with the SEC, but has not yet become effective. The terms of any offering under the registration statement would be established at the time of the offering and as required would be described in a prospectus supplement filed with the SEC. The common shares may not be sold, nor may offers to buy the common shares be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell any common shares, or the solicitation of an offer to buy any common shares, nor will Sinovac sell any common shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of any such state or jurisdiction.
SOURCE Sinovac Biotech Ltd.