Qiao Xing Universal Telephone (XING) announced that it has obtained binding commitments from certain institutional investors to purchase approximately 1,500,000 shares of its common stock at a price of $7.25 per share, for gross proceeds of approximately $10,875,000.

In addition, the investors will receive 5 year warrants to purchase up to 300,000 shares of common stock at $9.86 per share. The shares and warrants are being offered under the Company's effective shelf registration statement previously filed with the Securities and Exchange Commission.

Jesup & Lamont Securities Corporation acted as placement agent for the offering.