©Reuters. Chanson International (CHSN) lists 3.39m stock IPO at $4/sh
Chanson International Holding (CHSN), a supplier of bakery, seasonal and beverage products through its chain stores in China and the United States, today announced the price for its initial public offering (the “Offering”) of 3,390,000 Class A common shares public offering price of $4.00 per Class A common share. The Class A common shares have been admitted to listing on the Nasdaq Capital Market and are expected to trade on March 30, 2023 under the ticker symbol “CHSN”.
The Company expects total gross proceeds from the offering of $13,560,000 before deducting underwriting rebates and other related costs. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 508,500 Class A common shares at the public offering price upon the closing of this offering, less subscription discounts. The offering is expected to close on or about April 3, 2023, subject to satisfaction of customary closing conditions.
Proceeds from the offering will be used to open new stores in the United States.
EF Hutton, a division of Benchmark Investments, LLC (“EF Hutton”) is acting as sole book-running manager for the offering. Hunter Taubman Fischer & Li LLC is acting as US counsel for the Company and Ortoli Rosenstadt LLP is acting as US counsel for EF Hutton in connection with the Offer.
A registration statement on Form F-1 relating to the Offering was filed with the US 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 which forms part of the registration statement. Copies of the prospectus relating to the offering, if available, may be obtained from EF Hutton, 590 Madison Avenue, 39th Floor, New York, NY 10022 or by email at [email protected], or by calling (212) 404-7002. In addition, copies of the prospectus relating to the offering may be obtained through the SEC’s website at www.sec.gov.
Before investing, you should read the prospectus and other documents the company has 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 securities of the Company, nor may there be any offer, solicitation or sale of any securities of the Company in any state or jurisdiction in which upon which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.
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