Wuxi, China, December 26, 2024 (GLOBE NEWSWIRE) – Park Ha Biological Technology Co., Ltd. (the “Company”) has finalized the pricing for its initial public offering (the “Offering”). The company, which focuses on developing 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 expected to start trading on December 27, 2024, under the ticker symbol “PHH.” The company anticipates gross proceeds of $4.8 million from the Offering, before accounting for underwriting discounts and related expenses. The underwriters have also been granted a 45-day option to purchase up to an additional 180,000 ordinary shares at the offering price, less the standard underwriting discounts.
Completion of the Offering is anticipated around December 30, 2024, subject to the fulfillment of customary closing conditions. The net proceeds will be allocated to:
- Expanding directly-owned stores in the People’s Republic of China (PRC).
- Acquiring existing product patents for proprietary product development.
- Purchasing ingredient suppliers to reduce long-term production costs.
The Offering is being conducted on a firm commitment basis through Dawson James Securities, Inc. and D. Boral Capital LLC (the “Underwriters”). Ortoli Rosenstadt LLP serves as U.S. securities counsel for the Company, and Hunter Taubman Fischer & Li LLC represents the Underwriters in this capacity.
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 became effective on December 20, 2024. The Offering is exclusively by means of a prospectus, which is part of the registration statement. Copies of the prospectus will be available from Dawson James Securities, Inc. at 101 N. Federal Highway Suite 600, Boca Raton, Florida 33432, by email at investmentbanking@dawsonjames.com, or by phone at +1(561)-391-5555. Alternatively, it can be obtained from D. Boral Capital LLC at 590 Madison Ave 39th Floor, New York, NY 10022, by email at info@dboralcapital.com, or by phone at +1(212)-970-5150. The prospectus is also accessible via the SEC’s website at www.sec.gov.
Before investing, it is recommended to review the prospectus and other documents filed or to be filed with the SEC for further details on the Company and the Offering. This press release is for informational purposes and does not constitute an offer to sell or a solicitation to buy securities. It is not intended to offer, solicit, or sell the Company’s securities in any jurisdiction where such actions would be unlawful.
About Park Ha Biological Technology Co., Ltd. Established in 2016, Park Ha Biological Technology Co., Ltd. focuses on developing private skincare products, direct sales, and franchise promotions under the brand “Park Ha.” The company is committed to providing cost-effective solutions for skin issues, enhancing the confidence of women in need of treatment. As of April 30, 2024, the Company had two directly operated stores and 43 franchisees, with 41 stores operating under the “Park Ha” name and two under “Geni,” located in China. The Company offers a “light beauty experience,” a complimentary after-sales service provided in its directly-operated and franchise stores.
For more information, visit the Company’s website: http://ir.parkha.cn/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including the Company’s proposed Offering. These statements involve risks and uncertainties based on the Company’s current expectations of future events that may affect its financial condition, operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Words like “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may,” or similar terms are used to identify these statements. The Company undertakes no obligation to update these statements to reflect changes, except as required by law. Although the Company believes its expectations are reasonable, actual results may differ materially. Investors are encouraged to review other factors that may affect future results, as detailed in the Company’s registration statement and other filings with the SEC.
Contact Information:
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
