Urumqi, China, March 30, 2023 — Chanson International Holding, Just Announced The Pricing 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 company is a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States. The Class A ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading today, on March 30, 2023, under the ticker symbol “CHSN.”
The Company expects to receive 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. The Offering is expected to close on or about April 3, 2023, subject to the satisfaction of customary closing conditions.
CHSN stock chart by TradingView
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 the sole book-running manager for the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to the Company, and Ortoli Rosenstadt LLP is acting 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”) and was declared effective by the SEC on March 29, 2023. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering can be obtained via the SEC’s website at www.sec.gov.
Who is this recent company? 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 a whopping 33 chain stores under the “George●Chanson” brand in Xinjiang. In addition to 2 stores in New York City while selling on digital platforms and third-party online food ordering platforms. Chanson aims to make healthy, nutritious, and ready-to-eat food through advanced facilities based on in-depth industry research. All this while creating a comfortable and distinguishable store environment for customers. For more information, check out the Company’s website: http://ir.chanson-international.net/
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Risk Disclaimer: Chanson International Holding is a paid client of Wealthy VC.
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