Business
Bon Natural Life Limited Announces Closing of Upsized $11 Million Initial Public Offering
Xian, China, June 28, 2021 (GLOBE NEWSWIRE) -- Bon Natural Life Limited (Nasdaq: BON) ("BON" or the "Company"), one of the leading bio-ingredient solutions
About this update from Bon Natural Life Limited
[{"type":"text","content":"Xian, China, June 28, 2021 (GLOBE NEWSWIRE) -- Bon Natural Life Limited (Nasdaq: BON) (\"BON\" or the \"Company\"), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries, today announced the closing of its previously announced firm commitment initial public offering of 2,200,000 ordinary shares, par value US$0.0001 per share (the “Shares”) at a public offering price of $5.00 per Share (the “Offering”), for total gross proceeds of $11.0 million, before deducting underwriting discounts, commissions and other related expenses. In addition, BON has granted the underwriters a 45-day option to purchase up to an additional 330,000 Shares at the public offering price, less underwriting discount and commissions. The Shares began trading on the Nasdaq Capital Market under the ticker symbol “BON” on June 24, 2021. The Company intends to use the proceeds to expand production capacity and their sales and distribution network, to invest in research and development, and for working capital. U.S. Tiger Securities, Inc. and Newbridge Securities Corporation acted as co-lead book running managers, R.F. Lafferty & Co. Inc. acted as the joint lead book running manager, and Ascendant Global Advisors acted as the Company’s Financial Advisor. The Crone Law Group served as U.S. Securities Counsel to the Company, and Ellenoff Grossman & Schole LLP served as counsel to the underwriters. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Bon Natural Life Limited The Company focuses on the manufacturing of personal care ingredients, such as plant extracted fragrance compounds for perfume and fragrance manufacturers, natural health supplements such as powder drinks and bioactive food ingredient products mostly used as food additives and nutritional supplements by their customers. For additional information, please visit the Company’s website at www.bnlus.com. Safe Harbor Statement This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking stat...