Global Internet of People, Inc. Announces Pricing of $26.88 Million Dollar Underwritten IPO

Rhea-AI Summary

Global Internet of People, Inc. (SDH) has announced the pricing of its initial public offering (IPO) of 6,720,000 ordinary shares at $4.00 per share, raising a total of $26.88 million before expenses. The offering will close on February 11, 2021, and shares are expected to begin trading on NASDAQ on February 9, 2021. An additional option allows underwriters to purchase up to 1,008,000 shares within 45 days at the public offering price. This IPO will fund the company's mobile application and service platform operations across China.

Positive

• Initial public offering priced at $4.00 per share, totaling $26.88 million in proceeds.
• Shares expected to commence trading on NASDAQ, increasing market visibility.

Negative

• None.

BEIJING, Feb. 9, 2021 /PRNewswire/ -- Global Internet of People, Inc. ("SDH" or the "Company") (NASDAQ: SDH), an operator of a knowledge sharing and enterprise service platform via mobile application and through local centers in China, today announced the pricing of its initial public offering of 6,720,000, ordinary shares at a public offering price of $4.00 per ordinary share, for total gross proceeds of $26,880,000 before deducting underwriting discounts and commissions and offering expenses. The offering is being conducted on a firm commitment basis. The ordinary shares have been approved for listing on The Nasdaq Capital Market and are expected to commence trading on NASDAQ between 12:15 PM and 12:30 PM, February 9, 2021, under the ticker symbol "SDH."

The Company has granted the underwriters an option, exercisable within 45 days from the date of the underwriting agreement, to purchase up to an additional 1,008,000 shares at the public offering price, less underwriting discounts, and commissions.

The offering is expected to close on February 11, 2021, subject to customary closing conditions.

ViewTrade Securities, Inc., a global provider of brokerage, investment banking, corporate /advisory and trading platform services, acted as sole book-running manager for the offering, National Securities Corporation acted as Co-Underwriter.

Hunter Taubman Fischer & Li LLC is acting as counsel to the Company. Ellenoff Grossman & Schole LLP is acting as counsel to the underwriters with respect to this offering.

Registration statements on Form F-1 (File Nos. 333-233745 and 333-252879) relating to the offering were filed with the Securities and Exchange Commission ("SEC") and were declared effective by the SEC on February 5, 2021 and February 9, 2021, respectively. 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 ,from ViewTrade Securities, Inc. by email at IB@viewtrade.com. Or via standard mail to ViewTrade Securities, Inc. 7280 W. Palmetto Park Road, Suite 310, Boca Raton, Florida 33433. 

Before you invest, you should read the final prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, 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 Global Internet of People, Inc.

Headquartered in Beijing and Shanghai, Global Internet of People, Inc. operates an online knowledge sharing and enterprise service platform, both online, via a mobile application "Shidonghui App" (the "APP"), and offline, through local offices in Beijing, Shanghai and Hangzhou, as well as 51 local centers operated by some of the Company's members in 35 cities throughout the PRC. The main services SDH offers to App users are (1) Questions and Answers Sessions and (2) streaming of audio and video courses and programs. The offline services SDH offers to its members are study tours and forums. For more information about the Company, please visit: www.sdh365.com.

For more information, please contact:

The Company:
IR Department
Email: IR@sdh365.com

Investor Relations:
Janice Wang   
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1-908-510-2351 (from U.S.)
            +86 13811768559 (from China)

 

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SOURCE GLOBAL INTERNET OF PEOPLE, INC.

FAQ

What is the IPO price for Global Internet of People, Inc. (SDH)?

The IPO price for Global Internet of People, Inc. is $4.00 per share.

When will the shares of SDH start trading on NASDAQ?

Shares of Global Internet of People, Inc. are expected to start trading on NASDAQ on February 9, 2021.

How much capital is Global Internet of People, Inc. raising through its IPO?

Global Internet of People, Inc. aims to raise approximately $26.88 million through its IPO.

What is the ticker symbol for Global Internet of People, Inc.?

The ticker symbol for Global Internet of People, Inc. is SDH.

What additional option do underwriters have in the SDH IPO?

Underwriters have an option to purchase an additional 1,008,000 shares within 45 days at the public offering price.