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Zhengye Biotechnology Holding Limited Announces Full Exercise of Underwriters’ Over-Allotment Option
Jilin, China, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Zhengye Biotechnology Holding Limited (Nasdaq: ZYBT) (the "Company" or "Zhengye"), a veterinary vaccine
About this update from Zhengye Biotechnology Holding Limited
[{"type":"text","content":"Jilin, China, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Zhengye Biotechnology Holding Limited (Nasdaq: ZYBT) (the \"Company\" or \"Zhengye\"), a veterinary vaccine manufacturer that encompasses research, development, manufacturing, and sales of veterinary vaccines, with a focus on livestock vaccine in China, today announced that the underwriter of its initial public offering (the \"Offering\") have exercised in full their option to purchase an additional 225,000 ordinary shares at a public offering price of $4.00 per ordinary share to cover over-allotments. Gross proceeds of the Company's initial public offering, including the exercise of the over-allotment, totaled $6.9 million, before deducting underwriting discounts and other related expenses. The ordinary shares began trading on the Nasdaq Capital Market on January 7, 2025 under the ticker symbol “ZYBT.” Proceeds from the Offering will be used for acquiring vaccine production companies and conducting R&D projects. Kingswood Capital Partners, LLC (\"Kingswood\") acted as the sole book-running manager for the Offering. Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to the Company, and VCL Law LLP acted as U.S. counsel to Kingswood 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 (the \"SEC\") (File Number: 333-276436) and was declared effective by the SEC on December 20, 2024. 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 Kingswood, Attn: Tower 56, 126 E. 56th Street, Suite 22S, New York, NY 10022, or by telephone at +1-732-910-9692. In addition, a copy 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 the solicitation of an offer to buy any of the Company's securities, nor shall there be any offer, solicitation or sale of any of the Company's 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 such state or jurisdiction. About Zhengye Biotechnology Holding Limited Through Jilin Zhengye Biological Products Co., Ltd., the Co...