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Rodman & Renshaw, LLC Serves as Co-Manager of a $20 Million Offering of Common Stock for Universal Travel Group

^{Published on 2010-06-16 15:40:32 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), today announced that its client Universal Travel Group, Inc. (NYSE:UTA) has priced a public offering of 2,857,143 shares of its common stock at $7.00 per share. The offering is expected to close on Monday, June 21, 2010. In addition, Universal Travel Group has granted the underwriters a 30-day option to purchase up to an additional 428,572 shares of its common stock to cover over-allotments, if any. Rodman & Renshaw, LLC is serving as co-manager for the offering.

Universal Travel Group is a leading travel services provider in China offering package tours, air ticketing, and hotel reservation services via the Internet and customer service representatives. The Company also operates TRIPEASY Kiosks, which are placed in shopping malls, office buildings, residential apartment buildings, and tourist sites. These kiosks are designed for travel booking with credit and bank cards, and serve as an advertising platform for Universal Travel Group. The Company's headquarters and main base of operations is in Shenzhen in the Pearl River Delta region of China. More recently, Universal Travel Group has expanded its business into Western China, opening a second home base in the Chongqing Delta region, and other attractive, under-penetrated tier-two travel markets throughout the country.

Rodman & Renshaw is the recognized leader for underwriting investments in small and mid-cap companies with a geographic focus on North America and China and across diverse industry sectors, including: Life Sciences and Healthcare, Metals and Mining, Energy, Technology, Cleantech as well as Regional and Community Banks. Rodman & Renshaw's professionals provide broad expertise and industry experience with proven capital raising capabilities as a long-term partner for publicly listed issuers.

The shares in this offering are being issued under a shelf registration statement declared effective by the Securities and Exchange Commission on November 5, 2009. A prospectus supplement related to the public offering will be filed with the Securities and Exchange Commission. Copies of the final prospectus supplement and related prospectus may be obtained by visiting EDGAR on the SEC Website at [ www.sec.gov ] or upon request from Rodman & Renshaw, LLC, 1251 Avenue of the Americas, New York, NY 10020, 212-430-1710 or email: [ info@rodm.com ]. An electronic copy of such prospectus is also available on the web site of the Securities and Exchange Commission (the "SEC") at [ http://www.sec.gov ].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities. The securities offered and sold in the private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act and applicable state securities laws.

About Rodman & Renshaw

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC.

Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of the aggregate number of PIPE and RD financing transactions completed every year since 2005.

For more information visit Rodman & Renshaw on the Internet at [ www.rodm.com ]

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