By Sheri Kasprzak
New York, Sept. 1 - China Shenghou Pharmaceutical Holdings, Inc. settled a $1.8 million private placement of stock that closed concurrently with the company's share exchange with Lan's International Investment Co., Ltd.
The company sold 2 million shares in the deal.
WestPark Capital, Inc. was the placement agent for the offering.
Under the terms of the share exchange, China Shenghou agreed to issue 16,255,400 shares to Lan's International Medicine in exchange for 93.75% of the equity interest in subsidiary Kunming Shenghuo Pharmaceutical (Group) Co., Ltd.
Los Angeles-based China Shenghou develops nutritional supplements and cosmetic products.
| Issuer: | China Shenghou Pharmaceutical Holdings, Inc.
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| Issue: | Stock
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| Amount: | $1.8 million
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| Shares: | 2 million
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| Price: | $0.90
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| Warrants: | No
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| Placement agent: | WestPark Capital, Inc.
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| Settlement date: | Aug. 31
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