Attached files
| file | filename |
|---|---|
| EX-1.1 - YUHE INTERNATIONAL, INC. | v199468_ex1-1.htm |
| 8-K - YUHE INTERNATIONAL, INC. | v199468_8-k.htm |
| EX-5.1 - YUHE INTERNATIONAL, INC. | v199468_ex5-1.htm |
| EX-99.1 - YUHE INTERNATIONAL, INC. | v199468_ex99-1.htm |
Exhibit 99.2
Contact:
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Yuhe
International, Inc.
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CCG
Investor Relations
|
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Mr.
Vincent Hu, Chief Financial Officer
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Mr.
Athan Dounis, Account Manager
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Phone:
+86-536-7300-667
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Phone:
+1 (646) 213-1916
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Email:
vincent.hu@yuhepoultry.com
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Email:
athan.dounis@ccgir.com
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Mr. Jason
Wang, Director of Investor Relations
Phone: +1
(765) 409-1844
Email:
jason.wang@yuhepoultry.com
www.yuhepoultry.com
Yuhe
International, Inc. Prices $25.2 Million Offering of Common Stock
Weifang, Shandong Province, P.R.C.
October 20, 2010– Yuhe International,
Inc. (NASDAQ: YUII) (“Yuhe” or the “Company”), a leading supplier of day-old
chickens raised for meat production, or broilers, in the People’s Republic of
China (“PRC”), today announced that the Company priced a registered public
offering of 3,600,000 shares of its common stock at $7.00 per share. The shares
are being sold under the Company’s previously filed shelf registration statement
on Form S-3 (File No. 333-167246), which was declared effective by the United
States Securities and Exchange Commission (“SEC”) on June 23, 2010.
The
Company expects that the offering will yield proceeds, before expenses, of $23.9
million and intends to use the net proceeds from the sale of the common stock
for future acquisitions, capital expenditures and general corporate and working
capital purposes.
Roth
Capital Partners acted as sole book-running manager of the offering with Rodman
& Renshaw, Brean Murray, Carret & Co., and Global Hunter Securities
acting as the co-managers. In connection with the offering, the
Company also granted the underwriters a 30-day option to purchase up to an
additional 540,000 shares to cover over-allotments, if any. The offering is
expected to close on or about October 25, 2010, subject to satisfaction of
customary closing conditions.
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 fax at (949)
720-7227, or via email at rothecm@roth.com.
About
Yuhe International, Inc.
Founded
in 1996, Yuhe is the largest day-old broiler breeder in China. The Company's
main operations involve breeding, as all broilers are sold within a day of
hatching. Headquartered in Weifang, Shandong Province, the Company has modern
facilities and is led by an experienced team which includes experts in chicken
breeding, disease prevention and animal husbandry science. Yuhe has two
operational subsidiaries, Weifang Yuhe Poultry Co. Ltd. and Weifang Taihong Feed
Co. Ltd., which largely supplies the Company's internal demand for chicken feed.
Currently, 90% of the Company's sales of day-old broilers are in Shandong
province through 28 local agents. There are 10 other sales agents in adjacent
provinces. The Company has imported state-of-the-art equipment from the United
States, Germany and Japan and has passed ISO9001 certification, allowing it to
adhere to international standards of operation. For more information on the
Company and its products, please visit http://www.yuhepoultry.com.
Cautionary
Statement
This
press release contains forward-looking statements concerning the Company's
business, products and financial results. The Company's actual results may
differ materially from those anticipated in the forward-looking statements
depending on a number of risk factors including, but not limited to, the
following: general economic and business conditions, development, shipment,
market acceptance, additional competition from existing and new competitors,
changes in technology, and various other factors beyond the Company's control.
All forward-looking statements are expressly qualified in their entirety by this
Cautionary Statement and the risk factors detailed in the Company's reports
filed with the Securities and Exchange Commission. The Company undertakes no
duty to revise or update any forward-looking statements to reflect events or
circumstances after the date of this release.
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