Huadi International Group Co., Ltd. Announces Closing of $25 Million Registered Direct Offering
09 Noviembre 2022 - 4:30PM
Huadi International Group Co., Ltd. (“HUDI” or the “Company”)
(NASDAQ: HUDI), a leading developer and manufacturer of industrial
stainless steel seamless pipes and tubes products in China, today
announced the closing of its previously announced registered direct
offering with two institutional investors, raising approximately
US$25 million in gross proceeds, before deducting placement agent
fees and other estimated offering expenses.
The offering consists of the sale of 1 million ordinary
shares in a registered direct offering, at a purchase price of
$25.00 per ordinary share.
The Company plans to use the net proceeds for general working
capital.
Univest Securities, LLC acted as the exclusive placement
agent for this offering.
The offering of the ordinary shares described above was made
pursuant to an effective "shelf" registration statement on Form F-3
(File No. 333-265882), previously filed with the U.S. Securities
and Exchange Commission (the "SEC") on June 28, 2022, and
declared effective on October 21, 2022. The offering was made
only by means of a prospectus supplement and accompanying
prospectus. Copies of the prospectus supplement and the
accompanying prospectus related to the offering may be obtained at
the SEC's website located at http://www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
About Huadi International Group Co., Ltd.
Huadi International Group Co., Ltd. is a leading manufacturer of
industrial stainless steel seamless pipes and tubes products with
extensive distribution facilities and network for over twenty
provinces in China and across international steel pipes industry.
It offers a broad range of products exported to twenty countries
and regions such as United States, Mexico, Thailand, Australia,
Argentina, Taiwan, India, the Philippines, UAE and Canada. Its
products are widely used in the oil & gas transmission,
chemistry engineering, food processing, medical devices,
aeronautics and astronautics, boiler, irrigation works
construction, electricity, automobile, naval architecture, paper
mill and mechanical industries. For more information about the
Company, please visit: http://www.huadi.cc.
Forward-Looking Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
“may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,”
“project,” “estimate” or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company’s expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company’s goals and strategies; the Company’s
future business development; financial condition and results of
operations; product and service demand and acceptance; reputation
and brand; the impact of competition and pricing; changes in
technology; government regulations; fluctuations in general
economic and business conditions in China and assumptions
underlying or related to any of the foregoing and other risks
contained in reports filed by the Company with the SEC. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the Company’s filings with the
SEC, which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward‐looking
statements to reflect events or circumstances that arise after the
date hereof.
For more information, please contact:
Investor Relations Email: IR@huadigroup.com
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