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news.China Sky One Medical, a manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic products in China, has raised $25 million in a private placement of 2.5 million shares of the company's common stock, with 30% warrant coverage.
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The warrants have an exercise price of $12.50 per share and a term of 3 years. China Sky One Medical intends to use the proceeds from the offering for acquisitions, working capital and sales and marketing for new products. Global Hunter Securities acted as the sole placement agent in this transaction.