By Devika Patel
Knoxville, Tenn., Oct. 7 - Orient Paper, Inc. said it took in roughly $5 million from a private placement of stock.
The company sold about 8.3 million common shares.
Proceeds will be used to buy a digital photo paper plant and for other general corporate purposes.
Orient Paper, based in Baoding City, China, makes and distributes paper products.
| Issuer: | Orient Paper, Inc.
|
| Issue: | Common stock
|
| Amount: | $5 million (approximate)
|
| Shares: | 8.3 million (approximate)
|
| Warrants: | No
|
| Settlement date: | Oct. 7
|
| Stock symbol: | OTCBB: OPAI
|
| Stock price: | $1.36 at close Oct. 7
|
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