Attached files
file | filename |
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8-K - CHINA AGRITECH INC | v182567_8k.htm |
EX-5.1 - CHINA AGRITECH INC | v182567_ex5-1.htm |
EX-1.1 - CHINA AGRITECH INC | v182567_ex1-1.htm |
EX-99.3 - CHINA AGRITECH INC | v182567_ex99-3.htm |
EX-99.2 - CHINA AGRITECH INC | v182567_ex99-2.htm |
China
Agritech Announces Public Offering of 1,243,000 Shares of Common
Stock
BEIJING, CHINA — April 28, 2010 — China Agritech, Inc., (NASDAQ:
CAGC) (“China Agritech” or the “Company”), a leading organic compound
fertilizer manufacturer and distributor in China, today announced that it is
offering 1,243,000 shares of its common stock. In connection with this offering,
the Company has granted the underwriter a 45-day option to purchase up to
186,450 shares of common stock to cover over-allotments, if any.
The
Company expects to use the net proceeds from this offering to establish branded
large-scale distribution centers and the remainder of the net proceeds, if any,
for working capital and general corporate purposes. These centers
will enable the Company to sell its organic fertilizers and third party sourced
products, including seeds, pesticides, and other agricultural products to
franchised retail stores initially anticipated to be owned and operated by the
current distributors of the Company’s products.
Rodman
& Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc.
(Nasdaq: RODM), is acting as sole book running manager for the
offering.
The sale
is being made under an effective registration statement previously filed with
and declared effective by the U.S. Securities and Exchange Commission (the
“SEC”) on February 25, 2010. A prospectus supplement
related to the offering was filed with the Securities and Exchange Commission. A
copy of the preliminary prospectus relating to the offering may be obtained by
visiting EDGAR on the SEC Website at www.sec.gov or upon
request from Rodman & Renshaw, LLC, 1251 Avenue of the Americas, New York,
NY 10020, 212-430-1710 or email: info@rodm.com.
This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy any of the securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About China Agritech, Inc.
China
Agritech, Inc. is engaged in the development, manufacture and distribution of
liquid and granular organic compound fertilizers and related products in China.
The Company has developed proprietary formulas that provide a continuous supply
of high-quality agricultural products while maintaining soil fertility. The
Company sells its products to farmers located in 28 provinces of
China.
Safe
Harbor Statement
This
press release contains certain statements that may be deemed to be
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. All statements, other than statements of historical facts, that
address activities, events or developments that the Company expects, projects,
believes or anticipates will or may occur in the future, including, without
limitation, statements about its business or growth strategy, general industry
conditions, future operating results of the Company, capital expenditures,
expansion and growth opportunities, financing activities and other such matters,
are forward-looking statements. Although the Company believes that its
expectations stated in this press release are based on reasonable assumptions,
actual results may differ from those projected in the forward-looking
statements.
For more
information, please contact:
In
China:
Mr.
Gareth Tang
Chief
Financial Officer
China
Agritech, Inc.
Email:
gareth@chinaagritech.com
In
the U.S.:
Mr.
Kevin Theiss
Investor
Relations
Grayling
Tel: +1-646-284-9409
Email:
kevin.theiss@grayling.com