HAIKOU,
China, Dec. 13, 2024 /PRNewswire/ -- China
Pharma Holdings, Inc. (NYSE American: CPHI) ("China Pharma," or
the "Company"), a specialty pharmaceutical company, today announced
that it has filed a prospectus supplement with the U.S. Securities
and Exchange Commission (the "SEC") under which the Company may
offer and sell from time to time shares of common stock, par value
$0.001 per share (the "Common
Stock"), with an aggregate offering price of up to $600,000 (the "Financing").
The shares will be offered pursuant to a certain Securities
Purchase Agreement (the "SPA") the Company entered into with
certain investor (the "Investor") on December 12, 2024. Pursuant to the SPA, the
Investor agrees to, at its discretion, purchase, from time to time
over the commitment period from December 12,
2024 through December 31,
2024, through one or more closings, up to $600,000 worth of the Common Stock, at the prices
related to prevailing market prices, which equals to the lower of
(i) the closing price the day prior to the purchase notice, or (ii)
the five (5) day average closing prices of the Company as reported
by Bloomberg or on the NYSE American Market's website and in
accordance with NYSE Rule Section 312.03(c), provided, in no event
shall the price per share be lower than $0.15 per share. The timing
of any sales and the number of Common Stock sold, if any, will
depend on a variety of factors to be determined by the Investor.
There can be no assurance that the Company will be able to issue
and sell any Common Stock.
The prospectus supplement filed today adds to, updates or
otherwise changes information contained in the accompanying
prospectus contained in the Company's shelf registration statement
on Form S-3 (File No. 333-276481) filed by the Company with the SEC
on January 12, 2024, as amended, and
which became effective on February 6,
2024. Prospective investors should read the prospectus in
that registration statement and the prospectus supplement
(including the documents incorporated by reference therein) for
more complete information about the Company and the Financing,
including the risks associated with investing in the Company.
Copies of the prospectus supplement and related prospectus may be
obtained from China Pharma Holdings, Inc., Attn: Zhilin Li, 2nd Floor, No. 17, Jinpan Road,
Haikou, Hainan Province, China 570216. You may also obtain these
documents free of charge when they are available by visiting EDGAR
on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of
these securities, in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offer, solicitation or sale will be made only by
means of the prospectus supplement and the accompanying
prospectus.
About China Pharma Holdings, Inc.
China Pharma Holdings, Inc. is a specialty pharmaceutical
company that develops, manufactures and markets a diversified
portfolio of products, focusing on conditions with high incidence
and high mortality rates in China,
including cardiovascular, CNS, infectious, and digestive diseases.
The Company's cost-effective business model is driven by market
demand and supported by new GMP-certified product lines covering
the major dosage forms. In addition, the Company has a broad and
expanding nationwide distribution network across all major cities
and provinces in China. The
Company's wholly-owned subsidiary, Hainan Helpson Medical &
Biotechnology Co., Ltd., is located in Haikou City, Hainan
Province. For more information about China Pharma Holdings,
Inc., please visit http://www.chinapharmaholdings.com/. The
Company routinely posts important information on its website.
Forward-Looking Statements
Certain statements in this press release constitute
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Any statements set forth above that are not historical facts
are forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those in
the forward-looking statements. Such risks and uncertainties may
include, but are not limited to: the achievability of financial
guidance; success of new product development; unanticipated changes
in product demand; increased competition; downturns in the Chinese
economy; uncompetitive levels of research and development; and
other information detailed from time to time in the Company's
filings and future filings with the United States Securities and
Exchange Commission. The forward-looking statements made herein
speak only as of the date of this press release and the Company
undertakes no duty to update any forward-looking statement to
conform the statement to actual results or changes in the Company's
expectations, except as required by applicable law or
regulation.
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SOURCE China Pharma Holdings, Inc.