Chanson International Holding Announces Closing of Initial Public Offering
03 Abril 2023 - 3:10PM
Chanson International Holding (Nasdaq: CHSN) (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 closing 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 began trading on the Nasdaq Capital Market on March
30, 2023 under the ticker symbol "CHSN."
The Company received 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.
Proceeds from the Offering will be used to open new stores in
the United States.
EF Hutton, division of Benchmark Investments,
LLC (“EF Hutton”) acted as the sole book-running manager for the
Offering. Hunter Taubman Fischer & Li LLC acted as U.S. counsel
to the Company, and Ortoli Rosenstadt LLP acted 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 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 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.
This press release does not constitute an offer
to sell or a 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 an offer, solicitation,
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About Chanson International Holding
Founded 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. 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. 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 HoldingInvestor Relations
DepartmentEmail: IR@chansoninternational.com
Ascent Investors Relations LLCTina XiaoPhone:
+1 917 609-0333Email: tina.xiao@ascent-ir.com
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