May 28, 2008 -- China Pharma Holdings, Inc. (OTCBB: CPHI) completed a private placement that raised gross proceeds of $10 million. The company sold 5 million shares at a price of $2 each and sweetened the deal with 1.25 million three-year warrants to buy stock at $2.80 per share. The company needed the new capital, as it reported just $682,000 in cash at the end of March. More details...
