Synutra International announces pricing of public offering of 3.3M common shares

Synutra International, Inc. (Nasdaq: SYUT), a leading infant formula company in China and a producer, marketer and seller of nutritional products for infants, children and adults, today announced the pricing of a public offering of 3.3 million common shares at $19.00 per share.

The underwriters have been granted a 30-day option to purchase up to 495,000 additional shares from the Company to cover over-allotments, if any. The offering is expected to close on or about June 30, 2010, subject to customary closing conditions.

The net proceeds to the Company from this offering will be approximately $59.565 million, not including the over-allotment option, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use up to $35 million from the net proceeds to repay debt outstanding under its credit agreement with RBS, and the remainder for general corporate purposes.

Oppenheimer & Co. Inc. and ROTH Capital Partners, LLC are acting as joint bookrunners for the offering.

The offering was made pursuant to the Company's registration statement, which was declared effective on May 12, 2010 by the U.S. Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The offering may only be made by means of a prospectus. A preliminary prospectus supplement relating to the offering has been filed with the U.S. Securities and Exchange Commission.