June 22, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Rodobo International, Inc. (OTCBB: RDBO) said that it has signed an agreement with various institutional investors for the private placement of an aggregate of 1,111,112 shares of its common stock and warrants to purchase 555,556 shares of its common stock for an aggregate purchase price of $3 million, or $2.70 per share.

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), served as the company's lead placement agent.

The warrants are immediately exercisable following issuance, have a term of exercise of 5 years and an exercise price of $3.50 per share.

The transaction was scheduled to be consummated on June 21, 2010.

Rodobo plans to use the proceeds of the private placement for general corporate purposes, which may include working capital, capital expenditures, acquisitions of new businesses and investments.

China-based Rodobo International is a non-state-owned dairy firm in China. Rodobo is a producer and distributor of formula milk powder products for infants, children, the middle-aged and the elderly in China. The company's products are sold under the brand names "Rodobo", "Healif" and "Peer".

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