Sinovac Prices Secondary Offering

Sinovac Biotech (北京科兴生物制品有限公司) upped its secondary stock issue to 10 million shares (from 8.65 million) and priced them at $5.75 each, a 6% discount from last night’s closing price of $6.11. The company said it expects net proceeds of $53.8 million ($62 million if the underwriters purchase an additional 1.3 million shares for overallotments). Sinovac’s business focus is on the currently hot vaccine sector. More details... Stock Symbol: (NSDQ: SVA)