BEIJING, Sept. 20, 2024 (GLOBE NEWSWIRE) — Haoxi Health Technology Limited (“HAO”), an online marketing solution provider based in Beijing, China, has announced the successful closure of its previously announced follow-on offering. The company offered 4,000,000 units at a public offering price of $3.00 per unit, resulting in aggregate gross proceeds of $12,000,000 before deducting underwriting discounts and other offering expenses.
Each unit comprised one share of Class A Ordinary Share, or a pre-funded warrant; one Series A warrant (initially to purchase one Class A Ordinary Share, but five after the Series B Exercise Date); and one Series B warrant (to purchase four Class A Ordinary Shares after the Series B Exercise Date).
The underwriting firm, EF Hutton LLC (“EF Hutton”), acted as the sole bookrunner for the offering. The company granted EF Hutton an option to purchase up to an additional 600,000 units within 45 days. Hunter Taubman Fischer & Li LLC served as U.S. counsel to HAO, while Pryor Cashman LLP represented EF Hutton.
Mr. Zhen Fan, Chairman and CEO of HAO, stated, “We are pleased to close this offering and appreciate the continued support and market recognition as we execute our business plan. The proceeds provided by this offering will help facilitate our continued business expansion and technologies investment in healthcare industry.”
The registration statement (Form F-1, File No. 333-280174) was filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on September 19, 2024. The offering was made exclusively through a prospectus, copies of which are available from EF Hutton or via the SEC website.
About Haoxi Health Technology Limited
Haoxi Health Technology Limited specializes in providing online marketing solutions, particularly for clients in the healthcare sector. The company’s growth is aligned with the rise of news feed advertisements and the expansion of the healthcare industry. It offers comprehensive online marketing services, including short video marketing, to help advertisers engage with customers on platforms such as Toutiao, Douyin, WeChat, and Sina Weibo.
Forward-Looking Statements
This press release contains forward-looking statements, including the company’s plans, objectives, and strategies. Investors are cautioned that these statements involve risks and uncertainties that could cause actual results to differ materially, including those related to market conditions and the completion of the offering.
