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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 is expected to close on March 30, 2023, subject to customary closing conditions.
Prime Number Capital, LLC is acting as the sole bookrunner for the Offering. SBI China Capital Financial Services Limited is acting as the co-manager for the Offering. Hunter Taubman Fischer & Li LLC is acting as counsel to the Company, and Kaufman & Canoles, P.C. is acting as counsel to the underwriters.
The Company intends to use the proceeds from this Offering for i) research and development activities, including expanding its research and development team, improving existing products’ engineering and developing new products; ii) promotion and marketing activities, including the development, operations, and marketing of Company’s online platform; iii) increasing production capacities, including expanding and upgrading production lines and facilities; iv) acquiring upstream and downstream companies manufacturing wheelchairs and living aids products, including parts manufacturers; and v) general corporate purposes.
A registration statement on Form F-1 (File No. 333-259767) relating to the Offering, as amended, has been filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on March 27, 2023. The Offering is being made only by means of a prospectus. Copies of the final prospectus related to the Offering may be obtained, when available, from Prime Number Capital, LLC by email at info@pncps.com or via standard mail to Prime Number Capital, LLC, Prospectus Department, 14 Myrtle Drive, Great Neck, NY 11021. In addition, a copy of the final prospectus can also be obtained via the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
