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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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August 27, 2014
08:02 EDTBSPMBiostar Pharmaceuticals names Zheng Chief Scientist
Biostar Pharmaceuticals announced that the company has hired Professor Xiaohui Zheng as its Chief Scientist to preside over the company's product development projects.

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