Attached files
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8-K - Yongye International, Inc. | v169258_8k.htm |
EX-1.1 - Yongye International, Inc. | v169258_ex1-1.htm |
EX-99.2 - Yongye International, Inc. | v169258_ex99-2.htm |
For
Immediate Release
Contact:
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Yongye
International, Inc.
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CCG
Investor Relations, Inc.
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Mr.
Larry Gilmore, VP of Corporate Strategy
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Mr.
Crocker Coulson, President
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Phone:
+86-10-8232-8866 x 8880
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Phone:
+1-646-213-1915 (New York)
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E-mail: larry.gilmore@yongyeintl.com
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E-mail:
crocker.coulson@ccgir.com
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http://www.ccgirasia.com
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Yongye
International Prices $60 Million Public Offering of Common Stock
BEIJING, China, December 17, 2009 -
Yongye International, Inc. (NASDAQ: YONG), (“Yongye” or the “Company”) a
leading developer, manufacturer, and distributor of Shengmingsu brand plant and
animal nutrient products in the People's Republic of China (PRC), today
announced that the Company priced a registered public offering of 8,000,000
shares of its common stock at $7.50 per share. The shares are being sold under
the Company’s previously filed shelf registration statement (File No.
333-163388), which was declared effective by the United States Securities and
Exchange Commission (“SEC”) on December 8, 2009.
The
Company expects that the offering will yield net proceeds, after expenses, of
approximately $56.3 million and intends to use the net proceeds from the sale of
the common stock to acquire lignite coal resources and construct a new
manufacturing facility nearby, capable of extracting humic acid from coal and
producing 20,000 tons per year of the Company’s liquid plant product and 10,000
tons per year of its powder animal product, as well as for general working
capital purposes.
Roth
Capital Partners, LLC and Oppenheimer & Co. Inc. acted as joint book-running
managers of the offering. In connection with the offering, the Company also
granted the underwriters a 30-day option to purchase up to an additional
1,200,000 shares to cover over-allotments, if any. The offering is expected to
close on or about December 22, 2009, subject to satisfaction of customary
closing conditions, including the receipt of all necessary regulatory and stock
exchange approvals.
A base
prospectus and prospectus supplement related to the offering have been filed
with the SEC and are available on the SEC’s website,
http://www.sec.gov.
Copies of
the base prospectus and the prospectus supplement relating to the offering may
also be obtained from Roth Capital Partners, LLC, Attention: Equity Capital
Markets, 24 Corporate Plaza Drive, Newport Beach, CA 92660, by telephone at
(949) 720-7194, or via email at rothecm@roth.com or from Oppenheimer & Co.
Inc., Attention: Syndicate Prospectus Department, 300 Madison Avenue, 4th Floor,
New York, NY, 10017, Telephone number: (212) 667-8563, Email:
EquityProspectus@opco.com.
About
Yongye International, Inc.
Yongye
International, Inc., headquartered in Beijing, is engaged in the development,
manufacturing, distribution and sales of Shengmingsu brand plant and animal
nutrient products. The Company's patented and patent pending formulas and
proprietary extraction processes allow it to create products that increase crop
yields and improve the health of livestock. Its sole operating subsidiary, Inner
Mongolia Yongye Nongfeng Biotechnology Co., Ltd., is headquartered in Beijing
with administrative and sales offices located in Inner Mongolia, People's
Republic of China. For more information, please visit the Company’s website at
http://www.yongyeintl.com.
Safe
Harbor Statement
This
press release contains certain statements that may include "forward-looking
statements." All statements other than statements of historical fact included
herein are "forward-looking statements." These forward-looking statements are
often identified by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involving known and unknown risks and
uncertainties. Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable, they do involve assumptions,
risks and uncertainties, and these expectations may prove to be incorrect. You
should not place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company's actual results could
differ materially from those anticipated in these forward-looking statements as
a result of a variety of factors, including the risk factors discussed in the
Company's periodic reports that are filed with the Securities and Exchange
Commission and available on the SEC's website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these risk factors. Other
than as required under the securities laws, the Company does not assume a duty
to update these forward-looking statements.
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