Business
Huadi International Group Co., Ltd. Announces Pricing of $25 Million Registered Direct Offering
BEIJING, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Huadi International Group Co., Ltd. (“HUDI” or the “Company”) (NASDAQ: HUDI), a leading developer and manufacturer
About this update from Huadi International Group Co., Ltd.
[{"type":"text","content":"BEIJING, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Huadi International Group Co., Ltd. (“HUDI” or the “Company”) (NASDAQ: HUDI), a leading developer and manufacturer of industrial stainless steel seamless pipes and tubes products in China, today announced that it has entered into a securities purchase agreement with two institutional investors for a registered direct offering of $25 million of its ordinary shares, before payment of commissions and expenses. The offering is expected to close on or about November 9, 2022, subject to the satisfaction of customary closing conditions. The offering consists of the sale of 1 million ordinary shares in a registered direct offering, at a purchase price of $25.00 per ordinary share. Univest Securities, LLC is acting as the exclusive placement agent for this offering. The offering of the ordinary shares described above is being made pursuant to an effective \"shelf\" registration statement on Form F-3 (File No. 333-265882), previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") on June 28, 2022, and declared effective on October 21, 2022. The offering will be made only by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. About Huadi International Group Co., Ltd. Huadi International Group Co., Ltd. is a leading manufacturer of industrial stainless steel seamless pipes and tubes products with extensive distribution facilities and network for over twenty provinces in China and across international steel pipes industry. It offers a broad range of products exported to twenty countries and regions such as United States, Mexico, Thailand, Australia, Argentina, Taiwan, India, the Philippines, UAE and Canada. Its products are widely used in the oil & gas transmission, chemistry engineering, food processing, medical devices, aeronautics and astronautics, boiler, irrigation works constru...