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Strategies & Market Trends : Aardvark Adventures
DAVE 195.74-3.3%12:02 PM EST

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To: Ron who wrote (1937)1/17/2006 8:45:21 AM
From: Glenn Petersen  Read Replies (1) of 7944
 
Ron,

SEED (Origin Agritech) is no longer a blank check company. The original name of the company, which was formed specifically as a blank check company, was Chardan China Acquisition. It went public on March 17, 2004 and raised $24,150,000. The IPO was a unit deal priced at $6.00 per unit, and consisted of one share of common stock and warrants to purchase two additional common shares at $5.00 per share.

Chardan China recently completed the acquisition of State Harvest Holdings Limited, a Chinese company engaged in the production and sale of agricultural seeds, and changed its name to Origin Agritech.

Origin recently forced conversion of the warrants. While the company has not yet disclosed the details, Origin probably raised another $40 million. With the stock trading over $15.00 per share, the original units have a value in excess of $35.00. Not a bad return for a two-year period.

Some background information:

Message 21948397

Message 21948416

The founders of Chardan China Acquisition have taken two additional blank check companies public.

You might want to take a look at both Chardan China North Acquisition and Chardan China South Acquisition.

Message 21576987
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