BEIJING, September 19, 2024 (GLOBE NEWSWIRE) — Haoxi Health Technology Limited (“HAO”), an online marketing solutions provider based in Beijing, China, today announced the pricing of its underwritten follow-on public offering, aiming to raise $12 million before expenses.
The offering involves 4,000,000 units, each priced at $3.00. Each unit comprises:
- One Class A Ordinary Share (or a pre-funded warrant to buy one)
- One Series A warrant to buy one Class A Ordinary Share
- One Series B warrant to purchase Class A Ordinary Shares
The warrants will have a five-year term from the offering’s closing date. Series A warrants are immediately exercisable, while Series B warrants can be exercised from the sixteenth day after the closing. Series A warrants have an initial exercise price of $3.00, which adjusts to $0.60 if exercised after the Series B exercise date, allowing for the purchase of up to 20,000,000 shares. Series B warrants have an exercise price of $0.0001, with a maximum of 16,000,000 shares issuable.
The offering is being conducted on a firm commitment basis. EF Hutton LLC, the underwriter, has an option to buy up to 600,000 additional units. The offering is expected to close on or about September 20, 2024.
EF Hutton is acting as the sole bookrunner, with legal counsel from Hunter Taubman Fischer & Li LLC and Pryor Cashman LLP representing the company and EF Hutton, respectively.
The company plans to use the proceeds for:
- Working capital and general purposes
- Acquiring or investing in technologies
- Hiring experienced employees
The registration statement was filed with the U.S. Securities and Exchange Commission (SEC) on September 19, 2024. Copies of the prospectus can be obtained from EF Hutton or via the SEC’s website (www.sec.gov).
Logo of Haoxi Health Technology Limited
About Haoxi Health Technology Limited
Haoxi Health Technology Limited, headquartered in Beijing, China, is an online marketing solution provider focused on the healthcare industry. The company offers one-stop online marketing solutions, particularly in short video marketing, helping advertisers with customer acquisition and retention on platforms like Toutiao, Douyin, WeChat, and Sina Weibo.
Forward-Looking Statement
This press release contains forward-looking statements about Haoxi Health’s plans. These statements are subject to risks and uncertainties, including market conditions and the completion of the offering. Investors should not unduly rely on these statements. The company undertakes no obligation to update these statements.
Contact Information
- Underwriter: EF Hutton LLC, Ms. Stephanie Hu, Head of Asia, Investment Banking, [syndicate@efhutton.com]
- Investor Relations: WFS Investor Relations Inc., Janice Wang, Managing Partner, [services@wealthfsllc.com], +86 13811768599, +1 628 283 9214
