By Devika Patel
Knoxville, Tenn., May 28 - China Pharma Holdings Inc. completed a $10 million private placement of stock on May 27, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 5 million common shares at $2.00 per share, along with three-year warrants for 1.25 million common shares, each exercisable at $2.80.
Roth Capital Partners, LLC was the placement agent.
Located in Haikou City, China, China Pharma develops Western and Chinese medicines to treat infections, hepatitis, vascular diseases and other diseases.
| Issuer: | China Pharma Holdings Inc.
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| Issue: | Common stock
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| Amount: | $10 million
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| Shares: | 5 million
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| Price: | $2.00
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| Warrants: | For 1.25 million shares
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| Warrant expiration: | Three years
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| Warrant strike price: | $2.80
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| Agent: | Roth Capital Partners, LLC
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| Settlement date: | May 27
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| Stock symbol: | OTCBB: CPHI
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| Stock price: | $2.29 at close May 27
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