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Rodman & Renshaw Acts as a Co-Manager to $25 Million Public offering of Yuhe International (Nasdaq:YUII)

^{Published on 2010-10-20 10:50:32 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), a leading full service investment bank for growth companies, today announced that it has acted as a co-manager to Yuhe International, Inc. $25 million public offering. Yuhe International (Nasdaq: YUII) ("Yuhe" or the "Company"), today announced that the Company priced a registered public offering of 3,600,000 shares of its common stock at $7.00 per share. The shares are being sold under the Company's previously filed shelf registration statement on Form S-3 (File No. 333-167246), which was declared effective by the United States Securities and Exchange Commission ("SEC") on June 23, 2010.

The Company expects that the offering will yield proceeds, before expenses, of $23.9 million and intends to use the net proceeds from the sale of the common stock for future acquisitions, capital expenditures and general corporate and working capital purposes.

The Company also granted the underwriters a 30-day option to purchase up to an additional 540,000 shares to cover over-allotments, if any. The offering is expected to close on or about October 25, 2010, subject to satisfaction of customary closing conditions.

A base prospectus and prospectus supplement related to the offering have been filed with the SEC and are available on the SEC's website, [ http://www.sec.gov ].

Copies of the base prospectus and the prospectus supplement relating to the offering may also be obtained from Roth Capital Partners, LLC, Attention: Equity Capital Markets, 24 Corporate Plaza Drive, Newport Beach, CA 92660, by fax at (949) 720-7227, or via email at [ rothecm@roth.com ].

About Yuhe International, Inc.

Founded in 1996, Yuhe is the largest day-old broiler breeder in China. The Company's main operations involve breeding, as all broilers are sold within a day of hatching. Headquartered in Weifang, Shandong Province, the Company has modern facilities and is led by an experienced team which includes experts in chicken breeding, disease prevention and animal husbandry science. Yuhe has two operational subsidiaries, Weifang Yuhe Poultry Co. Ltd. and Weifang Taihong Feed Co. Ltd., which largely supplies the Company's internal demand for chicken feed. Currently, 90% of the Company's sales of day-old broilers are in Shandong province through 28 local agents. There are 10 other sales agents in adjacent provinces. The Company has imported state-of-the-art equipment from the United States, Germany and Japan and has passed ISO9001 certification, allowing it to adhere to international standards of operation. For more information on the Company and its products, please visit [ http://www.yuhepoultry.com ] .

Yuhe Internationala™s Cautionary Statement

This press release contains forward-looking statements concerning the Company's business, products and financial results. The Company's actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, and various other factors beyond the Company's control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

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 ]

Rodman & Renshaw Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements regarding future events. In some cases, you can identify these statements by words such as amay,a amight,a awill,a ashould,a aexcept,a aplan,a aintend,a aanticipate,a abelieve,a aestimate,a apredict,a apotential,a or acontinue,a the negative of these terms and other comparable terminology. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Companya™s control. There are or may be important factors that could cause our actual results to materially differ from our historical results or from any future results expressed or implied by such forward looking statements.

These factors include, but are not limited to, those discussed under the section entitled aRisk Factorsa in our Annual Report on Form 10 K, filed March 16, 2010, which is available at the U.S. Securities and Exchange Commission website at [ www.sec.gov ]. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

MEMBER FINRA, SIPC