Navigation Links
American Oriental Bioengineering Announces Proposed Private Offering to Raise $125 Million via Convertible Preferred Stock
Date:6/3/2008

NEW YORK, June 3 /PRNewswire-FirstCall/ -- American Oriental Bioengineering (NYSE: AOB) today announced that it plans to make a private offer, subject to market conditions and other factors, to sell approximately $125 million in aggregate liquidation preference of newly issued convertible preferred stock. The convertible preferred stock is contingently putable, will pay dividends quarterly in arrears, and will be convertible upon the occurrence of specified events into cash, shares of the Company's common stock or a combination of cash and shares of the Company's common stock, at the Company's option.

The Company intends to grant the initial purchasers of the preferred stock an option to purchase up to an additional $25 million in aggregate liquidation preference of the preferred stock to cover overallotments.

The Company anticipates using the net proceeds from the offering for working capital; general corporate purposes; repurchases of outstanding capital stock; to fund a prepaid forward contract the Company may enter into; and possible acquisitions of and investments in complementary businesses and products.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful. The preferred stock, and any common stock issuable upon conversion of the preferred stock, have not been registered under the Securities Act of 1933 or the securities laws of any other jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state securities laws.

Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other factors identified in the Company's filings with the Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 2007 and the Form 10-Q for the three months ended March 31, 2008, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

About American Oriental Bioengineering

American Oriental Bioengineering, Inc. is a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter products in China. For more information, visit http://www.bioaobo.com.


'/>"/>
SOURCE American Oriental Bioengineering, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
2. SportCoatings; The North American Booster Club Association (NABCA); the Coatings Specialist Group New Booster Program Goes High Tech With Invisible Antimicrobial Defense
3. American Stock Exchange Lists The Common Stock Of Neuralstem, Inc.
4. American Oriental Bioengineering Announces Participation in September Investor Conferences
5. Nektar Presents Positive Results from Phase 1 Clinical Trial of NKTR-118 (oral PEG-naloxol) at American College of Clinical Pharmacology Meeting
6. Rosetta Genomics to Present at the American Association of Cancer Research (AACR) "Molecular Diagnostics in Cancer Therapeutic Development" Conference
7. Tips from the Journals of the American Society for Microbiology
8. Trubion Pharmaceuticals Announces Upcoming Presentations at American College of Rheumatology Annual Scientific Meeting
9. Americas Heartland Launches Third Season Highlighting Contributions of American Farmers and Ranchers
10. American and European Parkinsons Sufferers Find Chinese Stem Cell Treatment Effective, Proving Western Debates Moot
11. AUDIO from Medialink and Pfizer: Hispanic Heritage Month Reminds Us Increasing Numbers of Hispanic-Americans Do Not Have Health Insurance
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/23/2016)... ... May 23, 2016 , ... PrecisionAg® Media has released ... and Beyond. The paper outlines the key trends that are creating both opportunities ... witnessed a lot of highs and lows as the precision agriculture market has ...
(Date:5/23/2016)... BOSTON and LONDON , May 23, ... 10 Could See Frontage Boost Efficiency by 40% - ... - Frontage Enforce Quality, Compliance and Traceability Within the ... (CRO) with labs in the United States ... 10 to be deployed across its laboratory facilities. In addition ...
(Date:5/22/2016)... Raleigh, NC (PRWEB) , ... May 22, 2016 , ... ... powerful weapons in combating the asbestos cancer, malignant mesothelioma. Surviving Mesothelioma has just posted ... , Researchers in the University of Rome’s Department of Clinical Sciences and Translational Medicine ...
(Date:5/20/2016)... ... 20, 2016 , ... Korean researchers say Manumycin A triggers apoptosis, or natural ... to treat the disease. Surviving Mesothelioma has just posted an article on the new ... institutions based their mesothelioma study on the fact the Manumycin A, a derivative of ...
Breaking Biology Technology:
(Date:3/10/2016)... --> --> ... and Access Management Market by Component (Provisioning, Directory Services, ... Organization Size, by Deployment, by Vertical, and by Region ... market is estimated to grow from USD 7.20 Billion ... a Compound Annual Growth Rate (CAGR) of 12.2% during ...
(Date:3/9/2016)... March 9, 2016 Nigeria ... that more than 23,000 public service employees either did ... receiving their salary unlawfully.    --> ... identified that more than 23,000 public service employees either ... been receiving their salary unlawfully.    --> ...
(Date:3/3/2016)... 2016  FlexTech, a SEMI Strategic Association Partner, awarded ... & Development, Leadership in Education, and, in a category ... th year of the FLEXI Awards and the ... from past years . Judging was done on ... of criteria, by a panel of non-affiliated, independent, industry ...
Breaking Biology News(10 mins):