Company offers restricted common shares at a 44% discount to market
By Devika Patel
Knoxville, Tenn., April 30 - Hubei Minkang Pharmaceutical Ltd. raised $791,189 in a private placement of stock on April 27, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 1,130,270 restricted common shares at $0.70 apiece. The per-share price represents a 44% discount to the April 26 closing share price of $1.25.
The Las Vegas-based company produces and markets traditional Chinese medicines.
| Issuer: | Hubei Minkang Pharmaceutical Ltd.
|
| Issue: | Restricted common stock
|
| Amount: | $791,189
|
| Shares: | 1,130,270
|
| Price: | $0.70
|
| Warrants: | No
|
| Settlement date: | April 27
|
| Stock symbol: | OTCBB: HBMK
|
| Stock price: | $1.25 at close April 26
|
| Market capitalization: | $53.81 million
|
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