Pryor Cashman represented China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) in a registered direct placement with a single health-care focused institutional investor for the purchase of an aggregate of $3 million of its common stock at a price of $2.50 per share.

As part of the transaction, China Jo-Jo Drugstores also issued investor warrants to purchase up to an aggregate of 600,000 shares of Common Stock at an exercise price of $3.10 per share.

The offering closed on July 23, 2015.

China Jo-Jo Drugstores is a leading China-based retail and wholesale distributor of pharmaceutical and health care products through its own online and retail pharmacies.

Representing China Jo-Jo Drugstores in the transaction from Pryor Cashman’s Corporate and China Groups were Partner Elizabeth Chen, Counsel Michael Campoli and Associate Meng-Jen Lin, assisted by Partners Richard Frazer, Eric Hellige and Ali Panjwani.