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

Beijing, sept. 20, 2024 (globe newswire) -- haoxi health technology limited (the “company” or “hao”), an online marketing solution provider headquartered in beijing, china, today announced that it closed its previously announced underwritten follow-on offering of 4,000,000 units (each a “unit,” and collectively, the “units”) at a public offering price of $3.00 per unit (the “offering”). 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”) initially, but five class a ordinary shares on and after the series b exercise date, and (iii) one series b warrant to purchase four of class a ordinary shares on and after the sixteenth (16th) calendar day (the “series b exercise date”) following the closing of the offering (the "series b warrant”, together with the series a warrant, the “warrants”). the units have no stand-alone rights and therefore are not certificated or issued as stand-alone securities. the class a ordinary shares and related warrants are issued separately in the offering. the company received aggregate gross proceeds of $12,000,000 from the offering, before deducting underwriting discounts and other offering expenses, excluding the exercise of any warrants.
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