ZJK Industrial Co., Ltd. Announces Partial Exercise of Over-Allotment Option
October 30 2024 - 1:25PM
ZJK Industrial Co., Ltd. (Nasdaq: ZJK) (the “Company”), a high-tech
enterprise specialized in manufacturing and sale of precision
fasteners, structural parts and other precision metal parts
products for new energy vehicles and intelligent electronic
equipment, today announced that the underwriters of its initial
public offering (the "Offering") have partially exercised their
over-allotment option to purchase an additional 131,249 ordinary
shares at the public offering price of US$5.00 per share. After
giving effect to the partial exercise of the over-allotment option,
the Company sold an aggregate 1,381,249 ordinary shares for gross
proceeds of approximately US$6.91 million, before deducting
underwriter discounts and other related expenses. The option
closing date was October 30, 2024. The ordinary shares began
trading on The Nasdaq Capital Market on September 30, 2024, under
the ticker symbol "ZJK."
Net proceeds from the Offering will be used for
(i) expanding the Company’s manufacturing facilities, (ii)
expanding sales network in North America, (iii) potential
acquisitions of, or investment in, businesses in the field of
fasteners, and (iv) general corporate purposes and working capital,
including potential strategic investments and acquisitions.
The Offering was conducted on a firm commitment
basis. Cathay Securities, Inc., acting as the representative of the
underwriters, Revere Securities LLC and Dominari Securities LLC
were the underwriters (collectively, the “Underwriters”) for the
Offering. Robinson & Cole LLP acted as the U.S. counsel to the
Company, and VCL Law LLP acted as the U.S. counsel to the
Underwriters 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 (the “SEC”) (File Number: 333-280371), as amended, and
was declared effective by the SEC on September 27, 2024. The
Offering was made only by means of a prospectus, forming a part of
the registration statement. Copies of the prospectus relating to
the Offering may be obtained from Cathay Securities, Inc. by email
at service@cathaysecurities.com, by standard mail to Cathay
Securities, Inc., 40 Wall Street, Suite 3600, New York, NY 10005,
or by telephone at +1 (855) 939-3888; or from Revere Securities LLC
by email at contact@reveresecurities.com, by standard mail to
Revere Securities LLC, 560 Lexington Avenue, 16th Floor, New York,
NY 10022, or by telephone at +1 (212) 688-2350. 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 such securities be offered or sold
in the United States absent registration or an applicable exemption
from registration, 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 ZJK Industrial Co.,
Ltd.
ZJK Industrial Co., Ltd. is a high-tech
enterprise specialized in manufacturing and sale of precision
fasteners, structural parts and other precision metal parts
products applied in a variety of industries, including intelligent
electronic equipment, new energy vehicles, aerospace, energy
storage systems and liquid cooling systems used in artificial
intelligence supercomputers. With about twelve-year involvement in
precision metal parts manufacturing industry, the Company has owned
a professional team, a series of highly automated and precise
manufacturing equipment, stable and strong customer group, and
complete quality management systems. It mainly offers standard
screws, precision screws and nuts, high-strength bolts and nuts,
turning and Computer Numerical Control (CNC) machining parts,
Surface Mounting Technology for miniature parts packaging; and
technology service for research and development from professional
engineering team. For more information, please visit the Company's
website at https://ir.zjk-industrial.com/.
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 “may,” “will,” “expect,” “anticipate,”
“aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or
other similar expressions in this announcement and the registration
statement. 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 more information, please
contact:ZJK Industrial Co., Ltd.Phone:
+86-0755-28341175Email: ir@zjk-industrial.com
Ascent Investor Relations LLCTina XiaoPhone:
+1-646-932-7242Email: investors@ascent-ir.com
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