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Earlier on the same day, China Agritech signed an agreement with Carlyle Group to issue 1,392,768 shares and warrants to purchase up to 928,514 shares of common stock at an issue price of $0.001 per share at an initial exercise price of approximately $10.77 per share.
Pursuant to the transaction, The Carlyle Group, through its affiliates will hold approximately 16.5% of the issued and outstanding China Agritech common stock.
Rodman & Renshaw, LLC is acting as advisor to China Agritech.
Deal Value (US$ Million) 15 Deal Type Private Equity Sub-Category None Deal Status Completed: 2009-10-20
Deal Participants
Target (Company) China Agritech, Inc.
Deal Rationale
The proceeds from the transaction will be used by China Agritech for business expansion and working capital purposes.
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