Chanson International Holding Announces Closing of $7.274 Million Public Offering
September 17 2024 - 4:30PM
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 closing 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 received aggregate gross proceeds of $7.274
million from the Offering, before deducting offering expenses and
commissions, excluding the exercise of any Common Warrants.
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 acted 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
was made only by means of a prospectus that forms a part of the
registration statement. Copies of the prospectus 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. In addition, copies of the prospectus relating to the
Offering may be obtained via the SEC's website
at www.sec.gov.
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.
About Chanson International
Holding
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 46 stores in
China, and three stores in New York City while selling on digital
platforms and third-party online food ordering platforms. Chanson
offers not only packaged bakery products but also made-in-store
pastries and eat-in services, serving freshly prepared bakery
products and extensive beverage products. Chanson aims to make
healthy, nutritious, and ready-to-eat food through advanced
facilities based on in-depth industry research, while creating a
comfortable and distinguishable store environment for customers.
Chanson's dedicated and highly-experienced product development
teams constantly create new products that reflect market trends to
meet customer demand. For more information, please visit the
Company's website: http://ir.chanson-international.net/.
Forward-Looking Statements
Certain statements in this announcement are
forward-looking statements. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
the Company's current expectations and projections about future
events that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can find many (but not all) of these statements by
the use of words such as “approximates,” “believes,” “hopes,”
“expects,” “anticipates,” “estimates,” “projects,” “intends,”
“plans,” “will,” “would,” “should,” “could,” “may” or other similar
expressions. The Company undertakes no obligation to update or
revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company's
registration statement and other filings with the SEC.
For investor and media inquiries, please
contact:
Chanson International HoldingInvestor Relations
DepartmentEmail: IR@chansoninternational.com
Ascent Investors Relations LLCTina XiaoPhone:
+1-646-932-7242Email: investors@ascent-ir.com
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