On October 25th, 2010, Yuhe
International (NASDAQ: YUII) announced the pricing of an underwritten public
offering of 3,600,000 shares of its common stock at $7.00 per share. On November
2nd, 2010 ROTH exercised the over-allotment option of 540,000 shares to bring
the total transaction value round up to $29 million. The offering of the shares
was made pursuant to a registration statement previously filed with the
Securities and Exchange Commission. ROTH Capital Partners acted as the sole
book-running manager of the offering.
2.37% discount to the closing price on the day of pricing*
17.43% 1-day aftermarket performance**
127% aftermarket performance from the company's most recent transaction in March 2008, for which ROTH was the lead placement agent
Founded in 1996, Yuhe International Inc. (YUII) is the largest day-old broiler breeder in China. The
Company's main operations involve breeding, as all broilers are sold within
days of hatching. Headquartered in Weifang, Shandong Province, the Company has
modern facilities and is led by an experienced team which includes experts in
chicken breeding, disease prevention and animal husbandry science. Yuhe has two
operational subsidiaries, Weifang Yuhe Poultry Co. Ltd. and Weifang Taihong Feed
Co. Ltd., which largely supplies the Company's internal demand for chicken feed.
Currently, 90% of the Company's sales of day-old broilers are in Shandong
province through 28 local agents. There are 10 other sales agents in adjacent
provinces. The Company has imported state-of-the-art equipment from the United
States, Germany and Japan and has passed ISO9001 certification, allowing it to
adhere to international standards of operation.
(Source: Company Press Release)
past months, ROTH has hosted a series of educational seminars on how to build a
first-class public company. These seminars have focused on ways companies can
strengthen their infrastructure and increase transparency and communications.
We continue to make an effort to keep you abreast of current market trends in
the U.S.-listed China space.
2008, ROTH has been involved in more than 30 transactions with U.S.-listed
Chinese companies and achieved an average aftermarket performance of over 58%
since the date of the transactions.*** These transactions include IPOs, follow-on offerings, registered directs and PIPEs.