NEW YORK, June 28 /PRNewswire-FirstCall/ -- American Oriental Bioengineering, Inc. today announced that it has priced its previously announced follow-on-public offering at $8.50 per share. A total of 8,000,000 shares are being sold by the Company. In addition, Tony Liu, the Company's Chairman and Chief Executive Officer and co-founder is selling 500,000 shares of common stock, representing approximately 3.4% of his current common stock ownership. The Company has also granted the underwriters an option to purchase an additional 1,275,000 to cover over-allotments, if any.
Piper Jaffray & Co. is acting as sole book-running manager of the offering and CIBC World Markets, Lazard Capital Markets, Jefferies & Company and Brean Murray, Carret & Co. are acting as co-managers of the offering. This offering is being made by means of a written prospectus. When available, copies of the final prospectus relating to the offering may be obtained by contacting Piper Jaffray at 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402 or by fax at (612) 303-1070.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on June 27, 2007. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About American Oriental Bioengineering, Inc.
American Oriental Bioengineering, Inc. is a leading, fully integrated, plant-based pharmaceutical and plant-based nutraceutical company dedicated to improving health through the development, manufacture and commercialization of modernized plant-based products in China.
American Oriental Bioengineering, Inc.CONTACT: Wilfred Chow, SVP Finance of American Oriental Bioengineering,Inc., +1-212-786-7568; or Bill Zima & Ashley Ammon MacFarlane of IntegratedCorporate Relations, Inc., +1-203-682-8200
