Sinovac gets a shot in the arm

US law firm O’Melveny & Myers represented UBS Securities and Piper Jaffray as joint book-running managers in the US$66 million follow-on public offering of NASDAQ-listed Sinovac Biotech in February. Sinovac received net proceeds of approximately US$62 million from the sale of 11.5 million common shares at US$5.75 per share, including 1.5 million common shares sold when the underwriters exercised their over-allotment option in full.