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Stock Market & Financial Investment News

News Breaks
March 10, 2014
08:10 EDTBSPMBiostar Pharmaceuticals enters into securities purchase agreement
Biostar Pharmaceuticals announced that it entered into a securities purchase agreement with certain institutional investors for the sale of 1,650,000 shares of common stock in a registered direct offering at the price of $2.49 per share. In addition, warrants to purchase 660K shares of common stock in the aggregate will be issued to the investors. The warrants will be exercisable immediately upon issuance at an exercise price of $3.23 per share and expire three years from the date of issuance. Gross proceeds of the offering, before deducting placement agent fees and other estimated offering expenses payable by the company, are expected to be approximately $4..1M. The net proceeds from this offering will be used for working capital and other general corporate purposes. The completion of the offering will occur on or before March 13.
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February 5, 2016
09:02 EDTBSPMBiostar Pharmaceuticals approves 1-for-7 reverse stock split
Biostar Pharmaceuticals announced that its Board of Directors unanimously approved a reverse split of its common stock at a ratio of 1-for-7, with anticipated trading on the post-split basis on NASDAQ commencing at the open of the stock market on February 5. In addition, the common stock will trade under a new CUSIP number. The reverse stock split will become effective upon the filing of the Company's Articles of Amendment to its Articles of Incorporation with the State of Maryland. The purpose of the reverse stock split is to raise the per share trading price of the Company's common stock to regain compliance with the minimum $1.00 continued listing requirement for the listing of its common stock on The NASDAQ Global Market.

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