KUNMING, China, June 14 /Xinhua-PRNewswire-FirstCall/ -– China Shenghuo Pharmaceutical Holdings, Inc. (Amex: KUN) announced the listing of its common stock on the American Stock Exchange on Thursday, June 14, 2007, and the closing of a public offering of its common stock at an offering price of $3.50 per share on Thursday, June 14, 2007.
Commenting on these two major events, Mr. Gui Hua Lan, Chairman and CEO of China Shenghuo, said, “Listing on a well-respected, senior exchange such as the American Stock Exchange marks an important milestone in our drive to enhance investor awareness and increase shareholder value. With the successful completion of our public offering, we can continue in these efforts as we now have sufficient capital to address our working capital needs and manage growth going forward.”
WestPark Capital, Inc. was the sole underwriter for the offering.
A copy of the prospectus relating to the offering may be obtained from WestPark Capital, Inc., 1900 Avenue of the Stars, Suite 310, Los Angeles, CA 90067 or by phone at (310) 843-9300 or facsimile (310) 843-9304 or email mkehoe@wpcapital.com.
About China Shenghuo Pharmaceutical Holdings, Inc.
Founded in 1995, China Shenghuo Pharmaceutical Holdings, Inc. (“China Shenghuo” or “the Company”) is a leading specialty pharmaceutical company that focuses on the research, development, production and marketing of Sanchi-based medicinal products. Through its subsidiary, Kunming Shenghuo Pharmaceutical (Group) Co., Ltd (“Kunming Shenghuo”), it owns thirty-one SFDA (State Food and Drug Association)-approved medicines, including the flagship product Xuesaitong Soft Capsules, which has already been listed in the Insurance Catalogue. At present, Shenghuo incorporates a sales network of agencies and representatives throughout China, which markets Sanchi-based traditional Chinese medicine into 1,650 hospitals and 1,500 drug stores as prescription and OTC drugs primarily for the treatment of cardiovascular, cerebrovascular and peptic ulcer disease. The Company also exports medicinal products to Asian countries such as Indonesia, Thailand and Kyrgyzstan.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to, the company’s reliance on one supplier for Sanchi, ability to develop and market new products, ability to establish and maintain a strong brand, continued maintenance of certificates, permits and licenses required to conduct business in China, protection of company’s intellectual property rights, market acceptance of the company’s products, changes in the laws of the People’s Republic of China that affect the company’s operations, any recurrence of severe acute respiratory syndrome or avian flu, the company’s ability to obtain all necessary government certifications and/or licenses to conduct the company’s business, development of a public trading market for the company’s securities, cost of complying with current and future governmental regulations and the impact of any changes in the regulations on the company’s operations and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
