UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported July 14, 2007): July 18, 2007
CHINA BIOPHARMACEUTICALS HOLDINGS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 814-00063 13-2949462
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
859 Panxu Road
Suzhou Jiangsu, China 215002
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(Address of principal executive offices)
86-512-6820-7173
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(Registrant's telephone number, including area code)
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(former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
The registrant has entered into a letter of intent with RimAsia Capital Partners
L.P. ("RACP") on July 14, 2007 to reorganize the outstanding acquisition
financing loan for the acquisition of Shenyang Enshi Pharmaceutical Limited
Company ("Enshi") and related matters The parties agreed in principle that the
principal of the RACP $11,500,000 will be converted into shares of redeemable
convertible preferred stock with a conversion price of $1.01. The exercise price
of the RACP warrants of $1.375 will be lowered to $1.26. Suzhou Erye
Pharmaceutical Limited Company ("Erye"), a subsidiary of the registrant, agreed
in principal to inject its 49% stake not yet owned by the registrant into the
registrant.The parties agreed to reach final definitive agreements before August
15, 2007.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
China Biopharmaceuticals Holdings, Inc.
By: /s/ Chris Peng Mao
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Name: Chris Peng Mao
Title: Chief Executive Officer
Dated: July 18, 2007