Haoxi Health Technology Announces $12 Million Follow-on Offering
BEIJING, September 19, 2024 (GLOBE NEWSWIRE) – Haoxi Health Technology Limited (HAO), an online marketing solution provider based in Beijing, China, has priced its underwritten follow-on public offering.
The company is offering 4,000,000 units at $3.00 per unit, aiming to raise $12 million in gross proceeds. Each unit comprises:
- One Class A Ordinary Share (or a pre-funded warrant)
- One Series A warrant
- One Series B warrant to purchase Class A Ordinary Shares
The warrants will have a 5-year term from the closing date. EF Hutton is acting as the sole bookrunner for the offering, which is expected to close around September 20, 2024, subject to standard conditions. The company intends to use the proceeds for working capital, general corporate purposes, potential acquisitions, and hiring employees.
Each unit consists of:
- One Class A Ordinary Share (or pre-funded warrant)
- One Series A warrant to purchase Class A Ordinary Shares
- One Series B warrant
The Series A warrant is immediately exercisable, and the Series B warrant is exercisable sixteen calendar days after the closing date.
The Series A warrants have an initial exercise price of $3.00. However, on the Series B exercise date, the exercise price of the Series A Warrant will be adjusted to $0.60, and the maximum number of Class A Ordinary shares issuable upon the exercise of the Series A warrants will be adjusted to 20,000,000 shares.
The legal counsel for the Haoxi Health Technology is Hunter Taubman Fischer & Li LLC, and Pryor Cashman LLP is acting as U.S. counsel to EF Hutton.
Use of Proceeds
The company intends to use the proceeds from this offering for:
- Working capital and general corporate purposes
- Acquiring or investing in technologies, solutions, or businesses
- Hiring experienced employees
About Haoxi Health Technology Limited
Haoxi Health Technology Limited is a Beijing-based online marketing solution provider, focused in China, which specializes in the healthcare industry. The company offers one-stop online marketing solutions, especially in online short video marketing. They help advertisers acquire and retain customers on popular platforms in China, such as Toutiao, Douyin, WeChat, and Sina Weibo.
Disclaimer:
This press release includes forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from the company’s expectations.
Contact: EF Hutton LLC Ms. Stephanie Hu, Head of Asia, Investment Banking syndicate@efhutton.com
WFS Investor Relations Inc. Janice Wang, Managing Partner services@wealthfsllc.com Phone: +86 13811768599; +1 628 283 9214
