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Regencell Bioscience Holdings Limited (NASDAQ:RGC) announced that its underwriter exercised an option to purchase 325,000 additional ordinary shares at $9.50 each as part of its initial public offering (IPO). The total gross proceeds of the IPO, including this option, reached $24,937,500, before expenses. Funds will be allocated to research studies, product development, staff salaries, and corporate expenses. The company specializes in Traditional Chinese Medicine for neurocognitive disorders like ADHD and ASD, aiming to commercialize liquid-based TCM formulae for these conditions.
Regencell Bioscience Holdings Limited (NASDAQ: RGC) has announced significant milestones and future plans in a letter from CEO Yat-Gai Au. The company focuses on Traditional Chinese Medicine (TCM) for treating neurocognitive disorders like ADHD and ASD. Regencell raised approximately $19.3 million from its IPO on July 16, 2021, aimed at funding further research and development. Following a successful initial study showing reduced symptoms in ADHD and ASD patients, a second study is set to begin next month, with 100 participants. The outcome will support future proprietary medicine registration.
Regencell Bioscience Holdings Limited (NASDAQ:RGC) announced the closing of its initial public offering, raising $21.9 million by offering 2,300,000 ordinary shares at $9.50 per share. The company has also granted underwriters a 45-day option for an additional 345,000 shares. Proceeds will fund a second research study, product development, salaries, and other operational costs. Registered with the SEC, the offering enables Regencell to advance its focus on Traditional Chinese Medicine for ADHD and ASD treatments.
Regencell Bioscience Holdings Limited (NASDAQ:RGC) announced its initial public offering of 2,300,000 ordinary shares priced at $9.50 each, expecting gross proceeds of about $21.9 million. The shares will trade on the Nasdaq Capital Market starting July 16, 2021. Proceeds will fund research initiatives, TCM development, staff costs, and general corporate purposes. The offering is set to close around July 20, 2021, pending customary conditions. Maxim Group LLC is the sole book-running manager for the offering.
