Business
Chanson International Holding Announces Closing of Initial Public Offering
Urumqi, China, April 03, 2023 (GLOBE NEWSWIRE) -- Chanson International Holding (Nasdaq: CHSN) (the “Company” or “Chanson”), a provider of bakery, seasonal,
About this update from Chanson International Holding
[{"type":"text","content":"Urumqi, China, April 03, 2023 (GLOBE NEWSWIRE) -- Chanson International Holding (Nasdaq: CHSN) (the “Company” or “Chanson”), a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States, today announced the closing of its initial public offering (the “Offering”) of 3,390,000 Class A ordinary shares at a public offering price of US$4.00 per Class A ordinary share. The Class A ordinary shares began trading on the Nasdaq Capital Market on March 30, 2023 under the ticker symbol \"CHSN.\" The Company received aggregate gross proceeds of US$13,560,000 from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 508,500 Class A ordinary shares at the public offering price after the closing of this Offering, less underwriting discounts. Proceeds from the Offering will be used to open new stores in the United States. EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”) acted as the sole book-running manager for the Offering. Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the Company, and Ortoli Rosenstadt LLP acted as U.S. counsel to EF Hutton in connection with the Offering. A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-254909) and was declared effective by the SEC on March 29, 2023. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained from EF Hutton at 590 Madison Avenue, 39th Floor, New York, NY 10022, or via email at [email protected], or telephone at (212) 404-7002. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov. This press release does not constitute an offer to sell or a 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 an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Chanson International Holding Founded in 2009, Chanson International Holdi...