New Issue: AgFeed Industries announces plans for $10 million private placement of stock

By Devika Patel

Knoxville, Tenn., May 7 - AgFeed Industries, Inc. said it arranged a $10 million private placement of shares.

The company will sell 2,329,645 common shares at $4.2925 apiece. The investors will also receive warrants for an additional 1,164,822 shares, exercisable at $4.50 for five years.

Proceeds will be used to acquire additional producing commercial hog farms in China and for general corporate purposes.

AgFeed, based in Nanchang City, China, produces hogs and animal feed.

Issuer:	AgFeed Industries, Inc.
Issue:	Common shares
Amount:	$10 million
Shares:	2,329,645
Price:	$4.2925
Warrants:	For 1,164,822 shares
Warrant expiration:	Five years
Warrant strike price:	$4.50
Pricing date:	May 7
Stock symbol:	Nasdaq: FEED
Stock price:	$4.32 at close May 6
Market capitalization:	$151 million

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