Park Ha Biological Technology Co., Ltd. Completes Initial Public Offering
Wuxi, China – December 30, 2024 – Park Ha Biological Technology Co., Ltd. (Nasdaq: PHH) has announced the successful closing of its initial public offering (IPO). The company, which develops private skincare labels and offers direct skincare product sales and franchise alliances, began trading on the Nasdaq Capital Market on December 27, 2024, under the ticker symbol “PHH.”
The offering involved 1,200,000 ordinary shares, sold at a public offering price of $4.00 per share. The company received gross proceeds of $4.8 million from the offering before deductions for underwriting discounts and other related expenses. Furthermore, the underwriters have been granted a 45-day option to purchase an additional 180,000 ordinary shares, which represents 15% of the shares sold in the offering, at the same public offering price, less any discounts.
Funds generated from the IPO will be used for specific purposes, including:
- Expanding the company’s network of directly-owned stores in the People’s Republic of China (PRC).
- Acquiring existing product patents to develop proprietary products.
- Purchasing ingredient suppliers to reduce production costs over the long term.
The IPO was conducted on a firm commitment basis. Dawson James Securities, Inc. and D. Boral Capital LLC served as underwriters for the offering.
Ortoli Rosenstadt LLP acted as U.S. securities counsel for the company, and Hunter Taubman Fischer & Li LLC served as U.S. securities counsel to the underwriters.
A registration statement (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 on December 20, 2024. A final prospectus outlining the terms of the offering has been filed with the SEC and is available on the SEC’s website.
The company’s press release clarifies the purpose of the document. It serves informational purposes and does not constitute an offer to sell, or the solicitation of an offer to buy, any of the company’s securities. Additionally, the release notes that the securities cannot be offered or sold in the United States without proper registration or exemptions, complying with all relevant state and federal regulations.
About Park Ha Biological Technology Co., Ltd.
Established in 2016, Park Ha Biological Technology Co., Ltd. focuses on developing its private skincare label, direct sales, and franchise alliances under the “Park Ha” brand. The company aims to provide cost-effective solutions to skincare problems and boost the confidence of women. As of April 30, 2024, the company operated two directly-owned stores and had 43 franchisees in China.
In addition, the company offers “light beauty experience”, a quick complimentary after-sales beauty service.
For further information, please visit the company’s website: http://ir.parkha.cn/.
Forward-Looking Statements
This announcement may include forward-looking statements regarding the company’s proposed offering, among other things. These statements involve risks and uncertainties based on current expectations and projections about future events that the company believes may affect its financial condition, results of operations, business strategy, and financial needs. Such statements can often be identified by the use of words like “believes,” “hopes,” “expects,” “anticipates,” or similar expressions.
The company has no obligation to publicly update or revise forward-looking statements to reflect subsequent events or changes in expectations, as may be required by law. The company’s actual results could differ materially from anticipated results. Investors are encouraged to review other factors that could affect future results in the company’s filings with the SEC.
Contact Information
For investor relations inquiries, 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
