March 2, 2010 (FinancialWire) — China Advanced Construction Materials Group, Inc. (NASDAQ: CADC), a provider of ready-mix concrete in China, has closed its public offering of two million registered shares of common stock at a price of $4.60 per share.

As part of the offering, the company granted the underwriter a 30 day option to purchase an additional 300,000 shares at the public offering price of $4.60 per share to cover over-allotments.

China ACM said it saw gross proceeds of $9.2 million before the over allotment. The company plans to use the net proceeds to purchase two additional portable concrete mixing plants with the remainder intended for working capital purposes.

Roth Capital Partners acted as the sole manager for the offering.

Beijing-based China ACM is a producer of construction materials for large scale infrastructure, commercial and residential developments. The company provides materials and services through its five ready-mix concrete plant network covering the Beijing metropolitan area.

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