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 pricing of a best-efforts public offering (the “Offering”) of 8,980,251 Class A ordinary shares (“Class A Ordinary Shares”) of the Company, and 8,980,251 common warrants (“Common Warrants”) to purchase 8,980,251 Class A Ordinary Shares, at a combined offering price of $0.81 per share and accompanying warrant. The Common Warrants have an exercise price of $0.972 per share. The Company expects to receive aggregate gross proceeds of $7.274 million from the Offering, before deducting offering expenses and commissions, excluding the exercise of any Common Warrants.
The Offering is expected to close on or about September 17, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the Offering for opening new stores in China and in the U.S.
Joseph Stone Capital, LLC is acting as the exclusive placement agent for the Offering.
A registration statement on Form F-1, as amended (File Number: 333-281732) relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”), and was declared effective by the SEC on September 12, 2024. The Offering is being made only by means of a prospectus that forms a part of the registration statement. A final prospectus relating to the Offering will be filed with the SEC and will be available for free on the SEC's website, located at www.sec.gov. Copies of the prospectus, when available, may be obtained from: Joseph Stone Capital, LLC, 29 Broadway, #1800, New York, New York, 10006, or by email at corporatefinance@josephstonecapital.com, or by calling 888-302-5548.
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.