China Pharma Holdings (CPHI) has released an update to notify the public and investors about the unregistered sales of equity securities.
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A company is set to issue 15 million restricted shares of common stock as part of a technology transfer, dividing them equally among the Transferor and two designees. These shares will be unregistered under U.S. securities laws and issued to non-U.S. persons through an offshore transaction, leveraging Regulation S for exemption from registration requirements.
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For a comprehensive understanding of the announcement, you can read the full document here.