December 18, 2009 (FinancialWire) — Deer Consumer Products, Inc. (NASDAQ: DEER) a Chinese designer, manufacturer and seller of quality small home and kitchen electric appliances, has closed its public offering of 6.9 million shares of newly issued common stock at $11 per share, which includes 900,000 shares sold as a result of the underwriters exercise of their over-allotment option in full at closing.

Deer will have a total of 31,731,748 shares issued and outstanding after this offering.

After underwriting discounts and commissions, the company received net proceeds of US $70,938,900. Deer plans to use the net proceeds from the offering for the expansion of its product offerings, expanding both Chinese domestic market and international sales, and to meet working capital needs.

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