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Biotech Business
Yongye Biotechnology International Raises $9.4 Million in Private Placement
September 27th, 2008
Yongye Biotechnology International, Inc. (OTC Bulletin Board: YGYB; "Yongye" or the "Company"), a leading developer, producer and distributor of nutrients for plants and animals in the People's Republic of China, announced that it closed a private placement financing with certain institutional investors led by Black River Asset Management, pursuant to which the Company issued 6,073,006 shares of its common stock for gross proceeds of approximately $9.4 million. Roth Capital Partners served as the placement agent. The Company intends to use the proceeds from this placement to begin restructuring Yongye Nongfeng Biotechnology Co. ("Yongye Nongfeng"), the Cooperative Joint...
Source: Law & Health Weekly (2008-09-27)
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