Zhongpin Inc., a leading meat and food processing company in the People's Republic of China, today announced that it has priced its previously announced underwritten registered public offering of 4,000,000 shares of its common stock at $13.25 per share. In connection with the offering, Zhongpin has also granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock to cover over-allotments, if any. Piper Jaffray & Co. acted as the sole book-running manager for the offering and Susquehanna Financial Group, LLLP acted as co-manager.

Net proceeds, after underwriting discounts and commissions and expenses, will be approximately $49 million. The offering is subject to customary closing conditions and is expected to close on Wednesday, October 14, 2009.

Zhongpin intends to use the net proceeds from the offering to fund expansion plans, repay short-term indebtedness, and for working capital and general corporate purposes.

The offering was made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on June 18, 2009 and amended on July 14, 2009. A prospectus supplement relating to the offering has been filed with the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the common stock or any other securities of Zhongpin. No offer, solicitation or sale shall be made in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Zhongpin

Zhongpin Inc. is a meat and food processing company that specializes in pork, pork products, vegetables, and fruits in China. Its distribution network in China covers 20 provinces plus Beijing, Shanghai, Tianjin, and Chongqing and includes more than 3,000 retail outlets. Zhongpin's export markets include the European Union and Southeast Asia.

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Related:  Food - Meat - Food Processing