AOB Calls Class B Warrants
Thursday October 13, 8:30 am ET
Receives Approximately $11.2 Million in Gross Proceeds from Call of Class A and Class B Warrants
HONG KONG--(BUSINESS WIRE)--Oct. 13, 2005--American Oriental Bioengineering Inc. (AMEX: AOB - News), an emerging Chinese company that produces and distributes a broad range of pharmaceutical and nutraceutical products, announced that on Sept. 22, 2005, the company delivered a redemption notice with respect to all of its Class B warrants, and as of Oct. 12, all 3 million Class B warrants had been exercised. The company had previously delivered a redemption notice with respect to its Class A warrants and, as announced on Sept. 29, all 7.5 million Class A warrants had been exercised. The Class A and Class B warrants were issued in connection with the private placement that the company completed in November 2004.
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The company received, in the aggregate, approximately $11.2 million in gross proceeds from the exercise of the Class A and Class B warrants. Giving effect to such exercise, the company expects to have approximately 50.3 million shares of common stock outstanding on a fully diluted basis.
About American Oriental Bioengineering Inc.
American Oriental Bioengineering Inc. (AOB) uses proprietary processes for producing soybean protein peptide more efficiently than traditional extracting techniques. These techniques are used to manufacture and formulate supplemental and medicinal products. Soybean peptides are used widely in general food, health food products and medicines, among other applications. AOB also produces Cease-Enuresis Soft Gel, the only Chinese FDA-approved first-grade, prescription medicine that is specially formulated to help alleviate bed-wetting and incontinence. The company is a leading producer of products in both the nutriceuticals and pharmaceuticals areas in China. For more information, visit bioaobo.com. |
