Sinovac Biotech (SVA) Closes 1.5M Common Offering; Sees $62M Net Proceeds

Sinovac Biotech Ltd. (NASDAQ: SVA) announced today that its previously announced public common share offering was closed on February 2, 2010. Sinovac received net proceeds of approximately $62.0 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, which included net proceeds from the sale of 1,500,000 common shares pursuant to the full exercise of the underwriters' over-allotment option.

UBS Securities LLC and Piper Jaffray & Co. served as joint bookrunners for the offering.