China Cord Blood Announces Full Exercise Of Over-Allotment Option In Connection With Public Offering Of 3.31 Mln. Shares - Quick Facts

(RTTNews) - China Cord Blood Corp. (CO: News ), a provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, Friday stated that the underwriters of its recent public offering of common stock have exercised the remaining portion of their over-allotment option, which will result in the issuance of an additional 181,000 ordinary shares.

The option was granted in connection with the public offering of 3.31 ordinary shares at a public offering price of $6.05 per share, which closed on November 24, 2009. The company said that the closing of the full over-allotment issuance of 495,867 ordinary shares is scheduled for Tuesday, January 5, 2010 and will bring the total gross proceeds of the public offering to $23 million.

China Cord Blood also stated that it intends to use the net proceeds from the offering for the expansion into new geographical markets, including applications for new licenses and acquisitions and investments, and for the construction and upgrading of facilities in existing geographical markets.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (RODM: News ) acted as lead Manager of the offering and Macquarie Capital acted as co-manager for the offering, the company noted.

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by RTT Staff Writer

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