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Zhongchao Inc. Announces Pricing of $5 Million Best Efforts Public Offering
Zhongchao Inc. Announces Pricing of $5 Million Best Efforts Public
About this update from Zhongchao Inc.
[{"type":"text","content":"SHANGHAI, May 29, 2026 /PRNewswire/ -- Zhongchao Inc. (\"Zhongchao\" or the \"Company\") (NASDAQ: ZCMD), a platform-based internet technology company offering services for patients with cancer and other major diseases, today announced the pricing of a best efforts public offering with gross proceeds to the Company expected to be approximately $5 million, before deducting placement agent fees and other estimated expenses payable by the Company, excluding the exercise of any warrant offered.\nThe offering is comprised of 9,259,260 units (each a \"Unit\"), each consisting of one Class A ordinary share of the Company, par value $0.008 per share (the \"Class A ordinary shares\"), or in lieu thereof, a pre-funded warrant, and one warrant to purchase one Class A ordinary share (each, a \"Warrant\"). The public offering price of the Units is $0.54 per Unit. The pre-funded warrants each shall have a purchase price equal to the public offering price per Unit minus $0.008, and are exercisable immediately upon issuance and expire when exercised in full. Each of the Warrants will have an initial exercise price of $0.594 per Class A ordinary share and be exercisable beginning on the date of the issuance date and ending on the six-month anniversary of the issuance date. The Class A ordinary shares, or pre-funded warrants in lieu thereof, and Warrants as part of the Units are being sold together but are immediately separable and issued separately.The offering is expected to close on or about June 1, 2026, subject to satisfaction of customary closing conditions. The Company and the purchasers have mutually agreed that the purchasers may elect, at their option, to purchase additional Units in one or more additional closings on or before the 30th calendar day anniversary of the closing date of this offering, by delivery of one or more written notices, provided that each purchaser shall be entitled to purchase up to an additional number of Units equal to the total number of Units purchased by such purchaser in this offering, and the purchase price for any such additional Units shall be equal to the public offering price of the Units in this offering.Univest Securities, LLC is acting as sole placement agent for the offering.The securities described above are being offered by the Company pursuant to a registration statement on Form F-1, as amended (F...