SHANGHAI, July 1, 2024
/PRNewswire/ -- Eshallgo Inc ("Eshallgo" or the "Company")
(NasdaqCM: EHGO), one of the leading office solution providers in
China, today announced the pricing
of its initial public offering (the "Offering") of 1,250,000 Class
A ordinary shares at a public offering price of $4 per Class A ordinary share, for total gross
proceeds of $5 million, before
deducting underwriting discounts and commissions and offering
expenses. The Offering is being conducted on a firm commitment
basis. The Class A ordinary shares are expected to commence trading
on Nasdaq Capital Market under the ticker symbol "EHGO" on
July 2, 2024.
The Company has granted the underwriters of the Offering an
option, exercisable within 45 days from the date of the
underwriting agreement, to purchase up to an additional 187,500
Class A ordinary shares at the public offering price, less
underwriting discounts and commissions. The Offering is expected to
close on July 3, 2024, subject to
customary closing conditions.
US Tiger Securities, Inc. and Kingswood Capital Partners, LLC
are acting as co-underwriters for the Offering. Ortoli Rosenstadt
LLP is acting as U.S. counsel to the Company. VCL Law LLP is acting
as U.S. counsel to the underwriters with respect to the
Offering.
A registration statement on Form F-1, as amended (File No.
333-271478), relating to the Offering was previously filed with the
Securities and Exchange Commission ("SEC") by the Company, and
subsequently declared effective by the SEC on July 1, 2024.
The Offering is being made only by means of a prospectus, forming a
part of the registration statement. A final prospectus relating to
the Offering will be filed with the SEC and will be available on
the SEC's website at www.sec.gov. Electronic copies of the
final prospectus related to the Offering may be obtained, when
available, from US Tiger Securities, Inc., 437 Madison Avenue, 27th
Floor, New York, New York 10022,
or by telephone at +1 646-978-5188, or from Kingswood Capital
Partners, LLC, 126 E 56th St, Suite 22S, or by telephone
at +1 732- 910- 9692.
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 Eshallgo Inc
Eshallgo Inc is one of the leading office solution providers in
China with a global vision. We
specialize in two distinct market sectors: office supply sale and
leasing, and after-sale maintenance & repair. We have created
an extensive geographical presence, which expands throughout 20
provinces in China. Our mission is
to become an office integrator and service provider, offer
competitive overall office solutions and services, expand our
service market beyond office equipment, and continue to create
maximum value for customers. For more information, visit the
Company's website at http://ir.eshallgo.com/.
Forward-Looking Statements
All statements other than statements of historical fact in
this announcement are forward-looking statements, including but not
limited to, the Company's proposed Offering and the listing of its
securities. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs, including the expectation that the Offering will be
successfully completed. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and in its
other filings with the SEC.
For more information, please contact:
Investor Relations:
Sherry Zheng
Weitian Group LLC
Phone: 718-213-7386
Email: shunyu.zheng@weitian-ir.com
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SOURCE Eshallgo Inc