Bon Natural Life Limited Announces Full Exercise of the Underwriter’s Over-Allotment Option
Bon Natural Life Limited (Nasdaq: BON) announced the issuance of an additional 330,000 ordinary shares at $5.00 per share, raising $1.65 million, following the full exercise of the underwriters' over-allotment option during its initial public offering (IPO). This brings the total shares sold in the IPO to 2,530,000, with gross proceeds of $12.65 million. The shares began trading on June 24, 2021. U.S. Tiger Securities and Newbridge Securities acted as co-lead managers for the offering. The registration statements related to the offering were declared effective on June 23, 2021.
- Successfully raised $1.65 million through the sale of additional shares.
- Total gross proceeds from the IPO reached $12.65 million, indicating strong investor interest.
- None.
Xian, China, July 02, 2021 (GLOBE NEWSWIRE) -- Bon Natural Life Limited (Nasdaq: BON) ("BON" or the "Company"), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries, today announced the issuance and sale of an additional 330,000 ordinary shares, par value US
After giving effect to the full exercise of the underwriters' over-allotment option, the total number of the Shares sold by BON in the initial public offering was 2,530,000 Shares and total gross proceeds were
U.S. Tiger Securities, Inc. and Newbridge Securities Corporation acted as co-lead book running managers, R.F. Lafferty & Co. Inc. acted as the joint lead book running manager, and Ascendant Global Advisors acted as the Company’s Financial Advisor. The Crone Law Group served as U.S. Securities Counsel to the Company, and Ellenoff Grossman & Schole LLP served as counsel to the underwriters.
Registration statements on Form F-1 (File Nos. 333-251182 and 333-257328) relating to the offering were filed with the Securities and Exchange Commission (“SEC”), which were declared effective by the SEC and effective upon filing on June 23, 2021. The offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus related to the offering are available, via the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Bon Natural Life Limited
The Company focuses on the manufacturing of personal care ingredients, such as plant extracted fragrance compounds for perfume and fragrance manufacturers, natural health supplements such as powder drinks and bioactive food ingredient products mostly used as food additives and nutritional supplements by their customers. For additional information, please visit the Company’s website at www.bnlus.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the natural, health and personal care market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
| In the United States: | In China: |
| Maggie Zhang | Impact IR | Sophie Zhang | Impact IR |
| Phone: (646) 893-8916 | Email: sophie.zhang@irimpact.com |
| Email: maggie.zhang@irimpact.com |
FAQ
What is the latest news about Bon Natural Life Limited (BON)?
How much did Bon Natural Life Limited raise in its IPO?
When did Bon Natural Life Limited start trading on Nasdaq?
Who were the underwriters for Bon Natural Life Limited's IPO?
What was the public offering price per share for Bon Natural Life Limited?
