March 4, 2010 (FinancialWire) — SinoHub, Inc. (AMEX: SIHI) said it completed a private placement of securities, selling 1,633,334 shares of common stock at a purchase price of $3.00 per share, after the close of the U.S. stock market on March 2.

For each share purchased, investors will also receive a warrant to purchase 0.5 shares of common stock at an exercise price of $3.25 per share. SinoHub issued warrants to purchase an aggregate of 816,670 shares of common stock. The number of shares issuable upon exercise of the warrants, at the exercise price of $3.25 per share, is subject to upward adjustment by twenty percent.

SinoHub was founded in 2000 by entrepreneur Harry Cochran and electronic component industry veteran Lei Xia to play a part in the electronics manufacturing market in China.

The firm provides supply chain management services with transparent information access for participants in the electronic components supply chain in China. SinoHub conducts substantially all of its operations through its wholly-owned subsidiary SinoHub Electronics Shenzhen Ltd. in the People’s Republic of China and its wholly-owned B2B Chips subsidiary, which offers virtual contract manufacturing and currently focuses on the mobile phone market.

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