Happiness Biotech Group Limited Announces Closing of US$11 Million Firm Commitment Initial Public Offering
Happiness Development Group Limited - Class A Ordinary Shares (HAPP)
Company Research
Source: PR Newswire
NANPING, China, Oct. 30, 2019 /PRNewswire/ -- Happiness Biotech Group Limited (the "Company" or Nasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer, announced today the closing of previously announced a U.S. underwritten initial public offering ("Offering") of 2,000,000 ordinary shares at a price to the public of $5.50 per share. The Company's shares commenced trading on the Nasdaq Capital Market on October 25, 2019 under the ticker symbol "HAPP."The Company received aggregate gross proceeds of $11 million from this 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 300,000 ordinary shares at the public offering price, less underwriting discounts. Proceeds from the Offering will be used to increase the number of experience stores, to build the Lucidum breeding base, research and development, marketing expenses and working
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