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Article Excerpt
NEW YORK, Sept. 10 /PRNewswire-Asia/ -- AgFeed Industries, Inc. , one of the largest independent hog production and animal nutrient companies in China, announced today that it has entered into a two year Equity Credit Agreement with an institutional investor pursuant to which it may, from time to time, sell shares of its common stock to the investor for aggregate gross proceeds of up to $50,000,000. The shares would be sold to the investor at a slight discount to then-current market price of AgFeed common stock. The Company has no obligation to sell, nor does the investor have any right to force the Company to sell, to the investor any shares of its common stock at any time during the term of the agreement. Additionally, the Company is not prohibited from accessing other sources of financing at any time during the term of the agreement. Any decision to sell shares under this agreement will be made solely by the Company and its Board of Directors...
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