Biostar Pharmaceuticals, Inc. (BSPM)

[morokoy]

News - Barron invests in BSPM.

Securities Purchase Agreement
On November 18, 2009 (the “Closing Date”), Biostar Pharmaceuticals, Inc. (the “Company”) entered into and closed on a securities purchase agreement (the “Purchase Agreement”) with certain accredited investors (the “Investors”) pursuant to which the Investors purchased 1,000,000 shares of our series B convertible preferred stock (“Series B Preferred Stock”) for an aggregate purchase price of $2,120,000 (the “Purchase Price”). The Series B Preferred Stock is convertible into 1,000,000 shares of our common stock. The Series B Preferred Stock does not pay annual dividends and shall not have any voting rights except as required by law.