September 8, 2009 (FinancialWire) — Lihua International, Inc., (NASDAQ: LIWA) said that the underwriters of its recent stock offering, Broadband Capital Management LLC and Rodman & Renshaw (NASDAQ: RODM), have exercised their overallotment option to purchase an additional 300,000 shares of LIWA common stock.

The selling stockholder granted the option in connection with Lihua’s public offering of 2.3 million shares of common stock at $4 per share. The offering is scheduled to close on September 10.

Lihua plans to use the net proceeds for working capital and general corporate purposes. Additionally, Lihua plans to expand its business through purchasing additional high speed fine wire drawing machines to further process excess copper rod and increase margins.

Danyang, China-based Lihua International, through its two wholly-owned subsidiaries, Lihua Electron and Lihua Copper, is a manufacturer of copper replacement products for China’s magnet and fine wire market.

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