YANGZHOU, China, Jan. 2, 2024
/PRNewswire/ -- Meihua International Medical Technologies Co., Ltd.
("MHUA" or the "Company") (NASDAQ: MHUA), a reputable manufacturer
and provider of Class I, II and III disposable medical devices with
operating subsidiaries in China,
today announced the closing of its previously disclosed registered
direct offering with certain accredited institutional investors to
purchase an initial $6 million
tranche in the offering of up to $50.5
million of its 7% Original Issue Discount Senior Convertible
Promissory Notes (the "Initial Notes"), and five-year ordinary
share purchase warrants to purchase 1,205,255 ordinary shares of
the Company (the "Initial Warrants"), exercisable at $2.9869 per ordinary share, in a concurrent
private placement, for gross proceeds of approximately $5,580,000.
After deducting the placement agent's commission and other
offering expenses payable by the Company, the net proceeds to the
Company were approximately $4,800,000. The Company intends to use the net
proceeds for general working capital purposes.
Maxim Group LLC is acting as the sole placement agent for the
offering.
The Initial Notes and the ordinary shares issuable upon
conversion of the Initial Notes are being sold pursuant to a shelf
registration statement on Form F-3 (File No. 333-274194), initially
filed with the U.S. Securities and Exchange Commission (the "SEC")
on August 24, 2023, amended on
September 25, 2023 and September 29, 2023, and declared effective on
September 29, 2023. Such securities
were offered only by means of a prospectus supplement to such
registration statement. Such prospectus supplement and accompanying
base prospectus relating to and describing the terms of the
registered direct offering were filed with the SEC on January
2, 2024. When available, copies of such prospectus supplement and
accompanying base prospectus may be obtained at the SEC's website
www.sec.gov or by contacting Maxim Group LLC, 300 Park Avenue, 16th
Floor, New York, NY 10022, at
212-895-3745.
The Initial Warrants, and the ordinary shares issuable upon
exercise of the Initial Warrants, were sold in a concurrent private
placement pursuant to an exemption from registration in accordance
with Section 4(a)(2) of the Securities Act, as amended, and/or
Regulation D promulgated thereunder.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Meihua International Medical Technologies Co.,
Ltd.
Meihua International Medical Technologies is a reputable
manufacturer and provider of Class I, II and III disposable medical
devices with operating subsidiaries in China. The Company manufactures and sells
Class I disposable medical devices, such as HDPE bottles for
tablets and LDPE bottles for eye drops, throat strips, and anal
bags, and Class II and III disposable medical devices, such as
disposable identification bracelets, gynecological examination
kits, inspection kits, surgical kits, medical brushes, medical
dressing, medical catheters, uterine tissue suction tables, virus
sampling tubes, disposable infusion pumps, electronic pumps and
anesthesia puncture kits, among other products which are sold under
Meihua's own brands and are also sourced and distributed from other
manufacturers. The Company has received an international "CE"
certification and ISO 13485 system certification and has also
registered with the FDA (registration number: 3006554788) for over
20 Class I products. The Company has served hospitals, pharmacies,
medical institutions and medical equipment companies for more than
30 years, providing over 1,000 types of products for domestic
sales, as well as over 120 products which are exported to more than
30 countries internationally across Europe, North
America, South America,
Asia, Africa and Oceania. For more information,
please visit www.meihuamed.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's ability to achieve its goals and
strategies, its ability to raise funds pursuant to such securities
purchase agreement described above, the Company's future business
development and plans of future business development, including its
ability to successfully develop robotic assisted surgery systems
and obtain licensure and certification for such systems, financial
conditions and results of operations, product and service demand
and acceptance, reputation and brand, the impact of competition and
pricing, changes in technology, government regulations,
fluctuations in general economic and business conditions in
China, and assumptions underlying
or related to any of the foregoing and other risks contained in
reports filed by the Company with the U.S. Securities and Exchange
Commission ("SEC"). For these reasons, among others, investors are
cautioned not to place undue reliance upon any forward-looking
statements in this press release. Additional factors are discussed
in the Company's filings with the SEC, including under the section
entitled "Risk Factors" in its annual report on Form 20-F, as
amended, filed with the SEC on August 29,
2023, as well as its current reports on Form 6-K and other
filings, all of which are available for review at www.sec.gov. The
Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that
arise after the date hereof.
For more information, please contact:
Janice Wang
Wealth Financial Services LLC
Phone:+86 13811768599
+1 628 283 9214
Email: services@wealthfsllc.com
View original
content:https://www.prnewswire.com/news-releases/meihua-international-medical-technologies-co-ltd-announces-closing-of-initial-6-million-tranche-of-potential-50-5-million-maximum-offering-302024866.html
SOURCE Meihua International Medical Technologies Co., Ltd.
