Offerings: SkyPeople Fruit Juice Eyes $24 Million Raise

August 26, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — SkyPeople Fruit Juice, Inc. (SPU), a maker of concentrated specialty fruit juices, has priced a public offering of 5,181,285 shares of its common stock at $5 per share. Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (RODM), is acting as sole book running manager. SkyPeople has granted the underwriters a 45-day option to purchase up to an additional 777,193 shares to cover over-allotments, if any. The offering is scheduled to close on August 30.

In addition, the company will receive aggregate net proceeds of around $24 million, not including the over-allotment option. The company said it plans to use the net proceeds for capital expenditure, including improvements to its Huludao Wonder and Qiyiwangguo facilities.

Florida-based SkyPeople Fruit Juice, through its wholly-owned subsidiary Pacific Industry Holding Group Co., Ltd., a Vanuatu company, holds 99% ownership interest in SkyPeople Juice Group Co., Ltd.

SkyPeople (China) is engaged in the production and sales of fruit juice concentrates, fruit beverages, and other fruit related products in and from the PRC.

The firm’s fruit juice concentrates are sold to domestic customers and exported directly or via distributors. Its brand, Hedetang, is a registered trademark in the PRC.

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Company Research on SkyPeople: EquityNet Research has published a report on SkyPeople Fruit Juice, which is accessible via Investrend Syndications (at http://www.investrend.com/synd0003), and official information and company filings from SkyPeople Fruit Juice are accessible via the SEC website (at http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001066923).

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