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Net proceeds, after underwriting discounts and commissions and expenses, will be approximately $49 million. The offering is subject to customary closing conditions and is expected to close on Wednesday, October 14, 2009.
Zhongpin intends to use the net proceeds from the offering to fund expansion plans, repay short-term indebtedness, and for working capital and general corporate purposes.
The offering was made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on June 18, 2009 and amended on July 14, 2009. A prospectus supplement relating to the offering has been filed with the Securities and Exchange Commission.
The offering was made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402 or by calling (800) 747- 3924. Electronic copies of the prospectus and the prospectus supplement are available on the Securities and Exchange Commission's website at http://www.sec.gov .
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the common stock or any other securities of Zhongpin. No offer, solicitation or sale shall be made in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About Zhongpin
Zhongpin Inc. is a meat and food processing company that specializes in pork, pork products, vegetables, and fruits in China. Its distribution network in China covers 20 provinces plus Beijing, Shanghai, Tianjin, and Chongqing and includes more than 3,000 retail outlets. Zhongpin's export markets include the European Union and Southeast Asia. For more information about Zhongpin, please visit Zhongpin's website at http://www.zpfood.com .
For more information, please contact:
Zhongpin Inc.
Mr. Sterling Song (English and Chinese)
Investor Relations Manager
Tel: +86-10-8286-1788 x101 in Beijing
Email: ir@zhongpin.com
Mr. Warren (Feng) Wang (English and Chinese)
Chief Financial Officer
Tel: +86-10-8286-1788 x104 in Beijing
Email: warren.wang@zhongpin.com
Christensen
Mr. Yuanyuan Chen (English and Chinese)
Tel: +86-10-5971-2001 in Beijing
Mobile: +86-139-2337-7882 in Beijing
Email: ychen@christensenir.com
Mr. Tom Myers (English)
Mobile: +86-139-1141-3520 in Beijing
Email: tmyers@christensenir.com
Ms. Kathy Li (English and Chinese)
Tel: +1-212-618-1978 in the US
Email: kli@christensenir.com
SOURCE Zhongpin Inc.
http://www.zpfood.com
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