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Zhengye Biotechnology Holding (ZYBT), a Chinese veterinary vaccine manufacturer, announced that underwriters have fully exercised their over-allotment option to purchase an additional 225,000 ordinary shares at $4.00 per share. This follows the company's initial public offering on the Nasdaq Capital Market, which began trading on January 7, 2025.
The total gross proceeds from the IPO, including the over-allotment exercise, amounted to $6.9 million before deducting underwriting discounts and expenses. The company plans to use the proceeds for acquiring vaccine production companies and R&D projects. Kingswood Capital Partners served as the sole book-running manager for the offering.
Zhengye Biotechnology (Nasdaq: ZYBT), a Chinese veterinary vaccine manufacturer, has announced the closing of its Initial Public Offering. The company successfully offered 1,500,000 ordinary shares at $4.00 per share, raising gross proceeds of $6 million. Trading commenced on January 7, 2025, on the Nasdaq Capital Market under the symbol 'ZYBT'.
The company has granted the underwriter a 45-day option to purchase up to an additional 225,000 ordinary shares to cover potential over-allotments. The IPO proceeds will be allocated towards acquiring vaccine production companies and conducting R&D projects. Kingswood Capital Partners served as the sole book-running manager for the offering.
Zhengye Biotechnology, a Chinese veterinary vaccine manufacturer, has announced the pricing of its initial public offering (IPO) on the Nasdaq Capital Market. The company is offering 1,500,000 ordinary shares at $4.00 per share, expecting to raise $6 million in gross proceeds before expenses.
Trading will commence on January 7, 2025, under the ticker symbol ZYBT. The offering is expected to close around January 8, 2025. Underwriters have a 45-day option to purchase up to additional 225,000 shares to cover over-allotments. The proceeds will be used for acquiring vaccine production companies and R&D projects.
Kingswood Capital Partners is serving as the sole book-running manager for this offering.
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