New Issue: American Dairy closes $2.67 million private placement of stock

By Sheri Kasprzak

Atlanta, Nov. 9 - American Dairy Inc. said Tuesday it has closed its $2.67 million private placement of stock.

The offering which closed Oct. 16 included 1,187,955 shares at $2.25 per share.

American Dairy also issued warrants for 1,187,955 shares at $2.25 for five years. Warrants were also issued to underwriters for 237,591 shares at $1.50 for five years.

Based in Los Angeles, American Dairy produces and distributes milk-related products to China.

Issuer:	American Dairy Inc.
Issue:	Stock
Amount:	$2.67 million
Shares:	1,187,955
Price:	$2.25
Warrants:	For 1,187,955 shares
Warrant expiration:	Five years
Warrant strike price:	$2.25
Announcement date:	Nov. 9
Settlement date:	Oct. 16
Stock price:	$4 at close Oct. 15
Stock price:	$3.50 at close Nov. 8 (last trade)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.