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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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