Feb 11 2010
China Pediatric Pharmaceuticals, Inc. (OTC Bulletin Board: CPDU)
("China Pediatric Pharmaceuticals " or the "Company"), today announced
it has recently closed a private placement financing. In the transaction
the Company issued 375,000 shares of the Company's common stock at a
price of $4.00 per share for an aggregate purchase price of $1.5 million.
“We thank all of
our new investors for their support in helping us reach our long term
goals.”
The Company plans to use the proceeds of the Regulation S private
placement for general corporate purposes such as working capital.
"We are glad to see the swift and successful closing of the recent
private placement transaction and the support from several investors.
The proceeds will strengthen our balance sheet and help us expand our
operations capacity as we continue to strive to become the #1 brand of
pediatric medicines in China," said Mr. Jun Xia, Chairman and Chief
Executive Officer of China Pediatric Pharmaceuticals. "We thank all of
our new investors for their support in helping us reach our long term
goals."
Source:
China Pediatric Pharmaceuticals, Inc.
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