BIOSTAR PHARMACEUTICALS, INC. (NASDAQ:BSPM) Files An 8-K Other EventsItem 8.01Other Events.
It has come to the attention of Biostar Pharmaceuticals, Inc., a Maryland corporation (the “Company”), that Ronghua Wang, the Company’s Chairman of the Board and Chief Executive Officer of the Company, entered into a certain a certain Share Purchase Agreement, dated as of June 2, 2018, with Waiping Liu (the “Agreement”). Under the terms of this Agreement, Ronghua Wang agreed to sell his 426,999 shares of the Company’s common stock in a private sale to Waiping Liu at the purchase price of $1.57 per share (the “Shares”). The Agreement contains certain representations and warranties by the parties thereto that are customary to the agreements of this nature. Waiping Liu (which is Hong Kong spelling of Liao Huiping’s name) is a Board member at large appointed to the Board on January 29, 2018 to fill the vacancy on the Board.
About BIOSTAR PHARMACEUTICALS, INC. (NASDAQ:BSPM)
Biostar Pharmaceuticals, Inc. (Biostar) is a holding company. The Company, through its subsidiary, Shaanxi Biostar Biotech, Ltd. (Shaanxi Biostar), and its variable interest entities (VIEs), Shaanxi Aoxing Pharmaceutical Co., Ltd. (Aoxing Pharmaceutical) and Shaanxi Weinan Huaren Pharmaceuticals Ltd. (Shaanxi Weinan), develops, manufactures and markets pharmaceutical products for various diseases and conditions in the People’s Republic of China (PRC or China). The Company offers over-the-counter (OTC) products and prescription-based pharmaceuticals. The Company’s products are sold in approximately 30 provinces in the PRC through a network of over 60 distributors and through approximately 230 sales people. The Company’s products include XinAoxing Oleanolic Acid Capsule, Ganwang Compound Paracetamol Capsule, Tianqi Dysmenorrhea Capsule, Compound Paracetamol and Amantadine Hydrochloride Tablets, Deafness Tongqiao pills and Huangyangning Tablets.