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Fushi Copperweld Closes $1.92 Million Private Placement

February 27, 2009 (FinancialWire) -- Fushi Copperweld, Inc. (NASDAQ: FSIN) said it has sold in a private placement 400,000 shares of its common stock, par value $0.006 per share, for an average price of $4.80 per share, and warrants to purchase 300,000 shares of Common Stock, for a total purchase price of $1.92 million.

The warrants consisted of series A warrants to purchase 100,000 shares of common stock at an exercise price of $5.25 per share, series B warrants to purchase 100,000 shares of common stock at an exercise price of $5.50 per share, and series C warrants to purchase 100,000 shares of common stock at an exercise price of $6.00 per share.

Company CEO Li Fu, Chairman said, "We raised this money to support the growth expansion in our Fayetteville, Tennessee facility."

Dalian, China-based Fushi Copperweld through its Fushi International Bimetallic Cable Co, and Copperweld Bimetallics units, is a manufacturer of copper cladded bi-metallic engineered conductor products used in the electrical, telecommunications, transportation, utilities and industrial industries.

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