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China Sky One Medical Raises $25 Million

publication date: Feb 4, 2008

China Sky One Medical successfully placed $25 million worth of stock in a secondary offering. The company sold 2.5 million shares at $10 each and included 30% warrant coverage as a sweetener. The warrants have a $12.50 exercise price and a three-year life. China Sky One closed last Friday at $12.10 and has not begun trading in today’s session. China Sky One said that it would use the proceeds for acquisitions, working capital and sales and marketing. The company is tremendously active developing new products, and the acquisition initiative will apparently open up still more new directions for China Sky One’s business. More details...

Stock Symbol: (OTCBB: CSKI)



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