PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--Beijing Med-Pharm Corporation (Nasdaq:BJGP) announced today that it completed a private placement of 3,333,306 shares of its common stock to a group of institutional and individual accredited investors, for gross proceeds to Beijing Med-Pharm of $15 million. The investors also received five-year warrants to purchase an aggregate of 666,611 shares of common stock, which have an exercise price equal to $5.625 per share. Philadelphia Brokerage Corporation acted as the sole placement agent.
