Haoxi Health Technology Limited (HAO) today announced the pricing of its initial public offering (the "Offering") of 2,400,000 Class A ordinary shares (the "Ordinary Shares") at a public offering price of $4.00 per share (“Public Offering Price”) for total gross proceeds of $9,600,000, before deducting underwriting discounts and other offering expenses. The Ordinary Shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on January 26, 2024, under the ticker symbol "HAO".
The Offering is being conducted on a firm commitment basis. The Company has granted EF Hutton LLC (“EF Hutton”), the underwriter, an option, within 45 days from the closing date of the Offering, to purchase up to an additional 360,000 Ordinary Shares at the Public Offering Price, less underwriting discounts, to cover the over-allotment option.
The Offering is expected to close on or about January 30, 2024, subject to the satisfaction of customary closing conditions.
EF Hutton is acting as the sole bookrunner for the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to the Company, and Pryor Cashman LLP is acting as U.S. counsel to EF Hutton, in connection with the Offering.
The Company intends to use the proceeds from this Offering for 1) working capital and general corporate purposes; 2) acquiring or investing in technologies, solutions, or businesses; and 3) hiring experienced employees.
The registration statement on Form F-1 (File No. 333-274214) relating to the Offering, as amended, was filed with the U.S. Securities and Exchange Commission (the "SEC") initially on August 25, 2023, and was declared effective by the SEC on January 25, 2024. The Offering is being made only by means of a prospectus. Copies of the final prospectus related to the Offering may be obtained, from EF Hutton, Attn: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, or via email at syndicate@efhutton.com or telephone at (212) 404-7002. In addition, a copy of the final prospectus can also 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 shall not constitute an offer to sell or the 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 offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.