SmartHeat Inc. Announces Pricing of Common Stock Offering; $5.00 Per Share

SmartHeat Inc. HEAT announced the pricing of its previously announced public offering of 5,000,000 shares of its common stock pursuant to an effective shelf registration statement at a public offering price of $5.00 per share. Barclays Capital is the sole bookrunner and Oppenheimer & Co. is the co-lead manager. The transaction is expected to close on or about November 23, 2010. SmartHeat has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any.