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Zhengye Biotechnology Holding Limited Announces Pricing of Initial Public Offering
Jilin, China, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Zhengye Biotechnology Holding Limited (the "Company" or "Zhengye"), a veterinary vaccine manufacturer that
About this update from Zhengye Biotechnology Holding Limited
[{"type":"text","content":"Jilin, China, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Zhengye Biotechnology Holding Limited (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 the pricing of its initial public offering (the \"Offering\") of 1,500,000 ordinary shares at a public offering price of US$4.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on January 7, 2025 under the ticker symbol \"ZYBT.\" The Offering is expected to close on or about January 8, 2025, subject to the satisfaction of customary closing conditions. The Company expects to receive aggregate gross proceeds of $6 million from the Offering, before deducting underwriting discounts and other related expenses. Additionally, the Company has granted the underwriters an option, exercisable within 45 days from the closing date of the Offering, to purchase up to an additional 225,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover the over-allotment, if any. Proceeds from the Offering will be used for acquiring vaccine production companies and conducting R&D projects. Kingswood Capital Partners, LLC (\"Kingswood\") is acting as the sole book-running manager for the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel to the Company, and VCL Law LLP is acting 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 is being 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. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and t...