New Issue: Weikang Bio-Technology settles $2.5 million private placement of stock

By Devika Patel

Knoxville, Tenn., Jan. 26 - Weikang Bio-Technology Group Co., Inc. completed a $2.5 million private placement of stock on Jan. 20, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The company sold 1,470,588 common shares at $1.70 per share.

Investors also received one series A warrant and one series B warrant for every $8.00 invested. The three-year series A warrants are exercisable for 312,500 shares at $3.00 apiece. The three-year series B warrants are exercisable for 312,500 shares at $5.00 per share.

Based in Shuangcheng City, China, Weikang develops and sells health and nutritional supplements.

Issuer:	Weikang Bio-Technology Group Co., Inc.
Issue:	Common stock
Amount:	$2.5 million
Shares:	1,470,588
Price:	$1.70
Warrants:	For 625,000 shares
Warrant expiration:	Three years
Warrant strike prices:	$3.00 (for 312,500 shares), $5.00 (for 312,500 shares)
Settlement date:	Jan. 20
Stock symbol:	OTCBB: WKBT
Stock price:	$3.26 at close Jan. 20

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