Shengfeng Development Limited Announces Closing of Initial Public Offering
The Company received aggregate gross proceeds of
Proceeds from the Offering will be used for expanding and increasing the number of regional sorting centers, the number of order fulfillment centers ("OFCs") and service outlets, purchasing trucks and other vehicles to add to the Company's self-owned fleet, upgrading the equipment of existing regional sorting centers, OFCs, and service outlets, improving IT infrastructure, and working capital and other general corporate purposes.
The Offering was conducted on a firm commitment basis.
A registration statement on Form F-1 relating to the Offering was filed with the
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
Shengfeng Development Limited is a contract logistics company in
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 in this prospectus. 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
For more information, please contact:
Investor Relations Department
Email: ir@sfwl.com.cn
Phone: +1 917-609-0333
Email: tina.xiao@ascent-ir.com
View original content:https://www.prnewswire.com/news-releases/shengfeng-development-limited-announces-closing-of-initial-public-offering-301790010.html
SOURCE