Park Ha Biological Technology Announces IPO Pricing
Wuxi, China, December 26, 2024 (GLOBE NEWSWIRE) – Park Ha Biological Technology Co., Ltd. (the “Company”) has announced the pricing of its initial public offering (the “Offering”). The company, focused on private skincare labels, direct skincare product sales, and franchise alliance promotions, will offer 1,200,000 ordinary shares at a public offering price of $4.00 per share.
The ordinary shares have been approved for listing on the Nasdaq Capital Market and are anticipated to begin trading on December 27, 2024, under the ticker symbol “PHH.” The company expects to generate gross proceeds of $4.8 million from the Offering, before deducting underwriting discounts and related expenses. The underwriters have also been granted a 45-day option to purchase an additional 180,000 ordinary shares at the public offering price, less underwriting discounts.
The Offering is expected to close on or about December 30, 2024, subject to customary closing conditions.
Net proceeds from the Offering will be allocated to:
- Expanding the scale of directly-owned stores in China.
- Purchasing existing product patents to develop proprietary products.
- Acquiring ingredient suppliers to reduce production costs over the long term.
The Offering is being conducted on a firm commitment basis.
Dawson James Securities, Inc. and D. Boral Capital LLC are acting as underwriters for the Offering. Ortoli Rosenstadt LLP is serving as U.S. securities counsel to the Company, while Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel to the Underwriters.
A registration statement on Form F-1 related to the Offering was filed with the U.S. Securities and Exchange Commission (SEC) (File Number: 333-281783) and was declared effective by the SEC on December 20, 2024. The Offering will be made solely through a prospectus, which is part of the registration statement.
Copies of the prospectus can be obtained from Dawson James Securities, Inc. by standard mail to 101 N. Federal Highway Suite 600 Boca Raton, Florida 33432, or by email at investmentbanking@dawsonjames.com, or by telephone at +1(561)-391-5555; or from D. Boral Capital LLC by standard mail to 590 Madison Ave 39th Floor, New York, NY 10022, or by email at info@dboralcapital.com, or by telephone at +1(212)-970-5150. Additionally, the prospectus is accessible via the SEC’s website at www.sec.gov.
About Park Ha Biological Technology Co., Ltd.
Established in 2016, Park Ha Biological Technology Co., Ltd. focuses on developing private skincare labels, direct skincare product sales, and franchise alliances under its proprietary brand, “Park Ha.” The company aims to provide cost-effective solutions for skin problems and improve the confidence of women seeking skin treatments. As of April 30, 2024, the company operates two directly-owned stores and 43 franchisees (41 under the “Park Ha” name and two under “Geni”) in China. As part of its value-added services, the company offers a complimentary “light beauty experience” in its directly-operated and franchise stores. For more information, visit the company’s website at http://ir.parkha.cn/.
Forward-Looking Statements
This announcement contains forward-looking statements, including those related to the proposed Offering. These statements involve risks and uncertainties, and are based on the Company’s current expectations and projections about future events. Investors can identify these statements through the use of terms such as “believes,” “expects,” and “plans.” The Company undertakes no obligation to update these statements.
For additional information, investors are encouraged to review the Company’s registration statement and other SEC filings.
Contact Information
For further information, please contact:
Park Ha Biological Technology Co., Ltd. Investor Relations Department Email: ir@parkha.cn
Ascent Investor Relations LLC Tina Xiao Phone: +1-646-932-7242 Email: investors@ascent-ir.com
