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Jin Medical International Ltd. Announces Exercise of the Underwriters’ Over-Allotment Option
Changzhou City, China, April 06, 2023 (GLOBE NEWSWIRE) -- Jin Medical International Ltd. (the "Company" or “JinMed”) (NASDAQ: ZJYL), a Cayman Islands holding
About this update from Jin Medical International Ltd.
[{"type":"text","content":"Changzhou City, China, April 06, 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 that Prime Number Capital, LLC, as the representative of the underwriters of the Company’s initial public offering (\"IPO”), has partially exercised the over-allotment option to purchase an additional 47,355 ordinary shares at the IPO price of $8.00 per share. As a result, the Company has raised gross proceeds of $378,840, in addition to the previously announced IPO gross proceeds of $8,000,000, before deducting underwriting discounts and offering expenses. Prime Number Capital, LLC acted as the sole bookrunner for the IPO. SBI China Capital Financial Services Limited acted as the co-manager for the IPO. Hunter Taubman Fischer & Li LLC acted as counsel to the Company, and Kaufman & Canoles, P.C. acted as counsel to the underwriters. A registration statement on Form F-1 (File No. 333-259767) relating to the IPO, 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 IPO was being made only by means of a prospectus. Copies of the final prospectus related to the IPO may be obtained from Prime Number Capital, LLC by email at [email protected]. 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. About Jin Medical International Ltd. Founded in 2006 and headquartered at Changzhou City, Jiangsu Province of China, the Company, through its Chinese operating entities, designs and manufactures wheelchairs and living aids products for people with disabilities, the elderly, and people recovering from injuries. The Company’s Chinese operating entities operate 2 manufacturing plants with approximately 228,257 square feet in the aggregate in Changzhou City and Taizhou Cit...