Haoxi health technology limited announces pricing of a $12 million underwritten follow-on public offering

Beijing, sept. 19, 2024 (globe newswire) -- haoxi health technology limited (the “company” or “hao”), an online marketing solution provider headquartered in beijing, china, today announced the pricing of its underwritten follow-on public offering (the "offering") of 4,000,000 units (each a “unit,” and collectively, the “units”) at an offering price of $3.00 per unit (the “public offering price”) for total gross proceeds of $12,000,000, before deducting underwriting discounts and other offering expenses. each unit consists of (i) one share of class a ordinary share, par value $0.0001 per share (the “class a ordinary share”) (or one pre-funded warrant to purchase one class a ordinary share (the “pre-funded warrant”)), (ii) one series a warrant to purchase one class a ordinary share (the “series a warrant”) (subject to certain adjustments therein), and (iii) one series b warrant to purchase such number of class a ordinary share described in the prospectus of the offering (the "series b warrant”, together with the series a warrant, the “warrants”). the warrants will have a term of 5 years from the closing date of the offering (the “closing date”). the series a warrant is exercisable immediately upon issuance, or the closing date. the series b warrant is exercisable at any time on or after the sixteenth (16th) calendar day from the closing date (the “series b exercise date”). the series a warrants have an initial exercise price of $3.00 per class a ordinary share. 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 exercise of the series a warrants will be adjusted to 20,000,000 shares. the exercise price of the series b warrants is $0.0001 per class a ordinary share. the maximum number of shares issuable upon exercise of the series b warrants will be 16,000,000 shares. the units have no stand-alone rights and will not be certificated or issued as stand-alone securities. the class a ordinary shares, the pre-funded warrants, and related warrants are immediately separable and will be issued separately in the offering.
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