ECMOHO Limited Announces Pricing of US$9 Million Underwritten Public Offering of American Depositary Shares
ECMOHO Limited (Nasdaq: MOHO) has announced a public offering of 10 million American Depositary Shares (ADSs) priced at $0.90 each, aiming for gross proceeds of $9 million. The funds will support investments in its SaaS platform and general corporate needs. The company has granted an underwriter a 45-day option to purchase an additional 12.8% of ADSs, potentially raising total proceeds to $10.2 million. The offering is expected to close on August 5, 2021, subject to customary conditions.
- Gross proceeds of $9 million from the offering, with potential to increase to $10.2 million.
- Funds intended for investment in SaaS platform, which may support future growth.
- Offering could lead to shareholder dilution.
- Market reaction uncertainty due to current economic conditions.
SHANGHAI, China, Aug. 03, 2021 (GLOBE NEWSWIRE) -- ECMOHO Limited (Nasdaq: MOHO) (“ECMOHO” or the “Company”), an integrated solutions provider in the health and wellness market in China, today announced the pricing of an underwritten public offering of 10 million American Depositary Shares ("ADSs") at an offering price of US
The Company has also granted the underwriter a 45-day option to purchase up to an additional approximately
Aegis Capital Corp. is acting as the sole book-running manager for the offering.
This offering is being made pursuant to an effective shelf registration statement on Form F-3 (No. 333-257200) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on July 6, 2021. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these 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 any such state or jurisdiction.
About ECMOHO Ltd.
ECMOHO is an integrated solutions provider in the health and wellness market in China, which curates and sells global brands and quality products to Chinese health-conscious consumers. Leveraging its technology, network and expertise in marketing and distribution, ECMOHO connects families with advanced health supplements, nutrition and food items, personal care products, household healthcare equipment and other wellness products. Through over ten years of operation, ECMOHO has established an ecosystem of trusted products and relationships to provide customized solutions which promote health regeneration, impart therapeutic benefits, and increase longevity to devoted consumers to sustain health. For more information, please visit http://ir.ecmoho.com/.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “going forward,” “outlook” and similar statements. For example, the Company’s statements about its ability to complete the offering and its intended use of proceeds are forward-looking statements and are inherently uncertain. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, such as the significant volatility and disruption caused by the COVID-19 pandemic, the Company’s expected growth of the online retail industry in China, the Company’s expectations regarding demand for and market acceptance of its products and services, the Company’s expectations regarding its relationships with its brand partners and e-commerce channels, and the level of consumer economic activity in China, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For investor and media inquiries, please contact:
ECMOHO Ltd.
Investor Relations
Email: IR@ecmoho.com
Investor relations agency contact:
William Tu / Scott Powell
Skyline Corporate Communications Group, LLC
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: wtu@skylineccg.com
FAQ
What is the pricing of the ECMOHO Ltd. public offering?
How much gross proceeds is ECMOHO Ltd. aiming to raise?
What are the intended uses of the proceeds from the offering?
What is the total number of ADSs being offered by ECMOHO?
When is the public offering for ECMOHO Ltd. expected to close?
Can the underwriter increase the total number of ADSs offered?
