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Sinovac raises $57.5 million

January 29, 2010 1:05 AM UTC

Sinovac Biotech Ltd. (NASDAQ:SVA) raised $57.5 million through the sale of 10 million shares at $5.75 in a bumped-up follow-on underwritten by UBS and Piper Jaffray. Sinovac proposed to sell 8.7 million shares last week, when its share price was $7.51. Sinovac was up $0.04 to $6.15 on Thursday. ...