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news.China Pharma Holdings has entered into a securities purchase agreement and a registration rights agreement with institutional and accredited investors pursuant to which China Pharma shall issue and sell five million shares of the company's common stock at a purchase price of $2 per share.
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The investors shall also receive three-year warrants to purchase an aggregate of 1.25 million shares of the company’s common stock at an exercise price of $2.80 per share, subject to adjustment.
The net proceeds of the offering are expected to be applied to development of new drugs in pipeline, expansion product line and general working capital.
Ms Li, president and CEO of China Pharma, said: “This round of financing will provide us with additional capital to help expedite the development of our new drugs and fund our future growth including the launch of several new drugs and further expansion of our distribution network.”