Jin medical international ltd. announces closing of $8,000,000 initial public offering

Changzhou city, china, march 30, 2023 (globe newswire) -- jin medical international ltd. (the "company" or “jinmed”) (nasdaq: zjyl), a cayman islands holding company with chinese operating entities that manufacture and develop wheelchairs and living aids products, today announced the closing of its initial public offering (the "offering") of 1,000,000 ordinary shares (the "ordinary shares") at a public offering price of $8.00 per share for total gross proceeds of $8,000,000, before deducting underwriting discounts and offering expenses. in addition, the company has granted the underwriters an option, within 45 days from the closing date of the offering, to purchase up to an additional 150,000 ordinary shares at the public offering price, less underwriting discounts, to cover over-allotment, if any. the offering closed on march 30, 2023 and the ordinary shares began trading on march 28, 2023 on the nasdaq capital market under the ticker symbol "zjyl".
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