Chanson International Holding Announces Pricing of Initial Public Offering
30 Marzo 2023 - 7:56AM
Chanson International Holding (the “Company” or “Chanson”), a
provider of bakery, seasonal, and beverage products through its
chain stores in China and the United States, today announced the
pricing of its initial public offering (the “Offering”) of
3,390,000 Class A ordinary shares at a public offering price of
US$4.00 per Class A ordinary share. The Class A ordinary shares
have been approved for listing on the Nasdaq Capital Market and are
expected to commence trading on March 30, 2023 under the ticker
symbol “CHSN.”
The Company expects to receive aggregate gross
proceeds of US$13,560,000 from the Offering, before deducting
underwriting discounts and other related expenses. In addition, the
Company has granted the underwriters a 45-day option to purchase up
to an additional 508,500 Class A ordinary shares at the public
offering price after the closing of this Offering, less
underwriting discounts. The Offering is expected to close on or
about April 3, 2023, subject to the satisfaction of customary
closing conditions.
Proceeds from the Offering will be used to open
new stores in the United States.
EF Hutton, division of Benchmark Investments,
LLC (“EF Hutton”) is acting as the sole book-running manager for
the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S.
counsel to the Company, and Ortoli Rosenstadt LLP is acting as U.S.
counsel to EF Hutton 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 (“SEC”) (File Number: 333-254909) and was declared
effective by the SEC on March 29, 2023. 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, when available, from EF Hutton at 590 Madison Avenue,
39th Floor, New York, NY 10022, or via email at
syndicate@efhuttongroup.com, or telephone at (212) 404-7002. In
addition, copies 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 the
Offering. 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 Chanson
International HoldingFounded in 2009, Chanson
International Holding is a provider of bakery, seasonal, and
beverage products through its chain stores in China and the United
States. Headquartered in Urumqi, China, Chanson directly operates
stores in Xinjiang, China and New York, United States. Chanson
currently manages 33 chain stores under the “George●Chanson” brand
in Xinjiang and 2 stores in New York City while selling on digital
platforms and third-party online food ordering platforms. Chanson
offers not only packaged bakery products but also made-in-store
pastries and eat-in services, serving freshly prepared bakery
products and extensive beverage products. Chanson aims to make
healthy, nutritious, and ready-to-eat food through advanced
facilities based on in-depth industry research, while creating a
comfortable and distinguishable store environment for customers.
Chanson’s dedicated and highly-experienced product development
teams constantly create new products that reflect market trends to
meet customer demand. For more information, please visit the
Company’s website: http://ir.chanson-international.net/.
Forward-Looking Statements
Certain statements in this announcement are
forward-looking statements, including, but not limited to, the
Company's proposed Offering. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
the Company’s current expectations and projections about future
events that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs, including the expectation that the Offering will be
successfully completed. Investors can identify these
forward-looking statements by words or phrases such
as “approximates,” “believes,” “hopes,” “expects,”
“anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,”
“would,” “should,” “could,” “may” or other similar expressions. The
Company undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and other
filings with the U.S. Securities and Exchange Commission.
For investor and media
inquiries, please contact:
Chanson International Holding Investor
Relations DepartmentEmail: IR@chansoninternational.com
Ascent Investors Relations LLCTina XiaoPhone:
+1 917 609-0333Email: tina.xiao@ascent-ir.com
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