Attached files

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EX-1.1 - EXHIBIT 1.1 - China Biologic Products Holdings, Inc.v412877_ex1-1.htm
EX-5.1 - EXHIBIT 5.1 - China Biologic Products Holdings, Inc.v412877_ex5-1.htm
EX-99.1 - EXHIBIT 99.1 - China Biologic Products Holdings, Inc.v412877_ex99-1.htm

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of Earliest event Reported): June 10, 2015

 

CHINA BIOLOGIC PRODUCTS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware 001-34566 75-2308816
(State or other jurisdiction of (Commission File No.) (IRS Employer ID No.)
incorporation or organization)    
     

 

18th Floor, Jialong International Building
19 Chaoyang Park Road
Chaoyang District, Beijing 100125
People’s Republic of China

(Address of Principal Executive Offices)

 

86-10-6598-3166

Registrant's telephone number, including area code

 

 

____________________________________________________________

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

 

 
 

 

Item 1.01. Entry into a Material Definitive Agreement. 

 

On June 10, 2015, China Biologic Products, Inc. (the “Company”), Warburg Pincus Private Equity X, L.P. (“WP X”), and Warburg Pincus X Partners, L.P. (together with WP X, the “Selling Stockholders”) entered into an underwriting agreement (the “Underwriting Agreement”) with Morgan Stanley & Co. International plc, Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Jefferies LLC as representatives to the underwriters named in the Underwriting Agreement (collectively, the “Underwriters”), relating to the public offering (the “Offering”) of 3,000,000 shares of the Company’s common stock (“Common Stock”), $0.0001 par value per share (the “Firm Shares”), at a price to the public of $105 per share (the “Offering Price”), less underwriting discounts. Of the 3,000,000 shares, 700,000 are being sold by the Company and 2,300,000 are being sold by the Selling Stockholders. Under the terms of the Underwriting Agreement, the Underwriters have been granted a 30-day option to purchase up to an additional 105,000 shares of Common Stock from the Company and up to an additional 345,000 shares of Common Stock from the Selling Stockholders (the 450,000 shares together, the “Additional Shares” and, together with the Firm Shares, the “Shares”) at the Offering Price. The net proceeds to the Company from the sale of the Shares, after deducting the underwriting discounts and other estimated offering expenses payable by the Company, are expected to be approximately $70.0 million assuming no exercise by the Underwriters of their option for the Additional Shares, or $80.5 million if the Underwriters exercise their option for the Additional Shares in full. The Company will not receive any proceeds from the sale of shares of Common Stock by the Selling Stockholders. The Offering is expected to close on June 15, 2015, subject to the satisfaction of customary closing conditions.

 

The Underwriting Agreement contains customary representations, warranties, and covenants of the Company and also provides for customary indemnification by each of the Company, the Selling Stockholders and the Underwriters against certain liabilities and customary contribution provisions in respect of those liabilities. The Offering is being made pursuant to an automatically effective registration statement on Form S-3ASR (Registration No. 333-204761) previously filed with the Securities and Exchange Commission and a prospectus supplement thereunder. A copy of the Underwriting Agreement is filed as Exhibit 1.1 to this report and incorporated by reference herein, and the foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to such exhibit.

 

In connection with the Offering, a copy of the opinion of counsel with respect to the validity of the Shares being sold in the Offering is filed as Exhibit 5.1 to this report and incorporated by reference herein.

 

Item 8.01. Other Events.

 

On June 10, 2015, the Company issued a press release announcing the pricing of the Offering. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated by reference herein.

 

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

 

Exhibit Number   Description
1.1   Underwriting Agreement, dated as of June 10, 2015, by and between the Company, the Selling Stockholders and the representatives to the Underwriters
5.1   Opinion of Wilson Sonsini Goodrich & Rosati, Professional Corporation
23.1   Consent of Wilson Sonsini Goodrich & Rosati, Professional Corporation (included in Exhibit 5.1)
99.1   Press Release issued by the Company dated June 10, 2015

 

 

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: June 10, 2015 CHINA BIOLOGIC PRODUCTS, INC.
   
   
  By:   /s/ David (Xiaoying) Gao  
    David (Xiaoying) Gao
Chief Executive Officer