Pryor Cashman Represents Zhongpin Inc. in $50 Million Private Placement
On October 9, 2007, Pryor Cashman client Zhongpin Inc. (Zhongpin), completed a $50 million private placement of 6,250,000 shares of its common stock to certain accredited institutional investors. Zhongpin was represented by Pryor Cashman in the transaction. The Pryor Cashman team was led by partner Eric M. Hellige, Chairman of the firm's Corporate Group.
Zhongpin is a meat and food processing company in the People’s Republic of China (PRC) specializing in pork and pork products, fruits and vegetables. Its distribution network in the PRC spans more than 20 provinces and includes over 2,800 retail outlets. Zhongpin's export markets include the European Union, Eastern Europe, Russia, Hong Kong, Japan and South Korea. Zhongpin will use the net proceeds of the offering for the construction of new pork processing plants, acquisitions and working capital.
