Zhongshan, China, Jan. 14, 2025 – Wing Yip Food Holdings Group Limited, a meat product processing company in China, has announced an update on its recent initial public offering (IPO). The underwriters for this offering have fully exercised their option to buy an extra 307,500 American Depositary Shares (ADSs) at a price of $4.00 each. This has raised an additional $1.23 million for the company.
With this inclusion, the total count of ADSs sold reaches 2,357,500, bringing the gross proceeds from the offering to approximately $9.43 million, before accounting for any expenses related to the underwriting. Trading of these ADSs began on the Nasdaq Capital Market on November 26, 2024, under the ticker symbol “WYHG.”
For this offering, Dawson James Securities, Inc. and D. Boral Capital LLC served as the underwriters. Legal support included Hunter Taubman Fischer & Li LLC helping the company and Nelson Mullins Riley & Scarborough LLP assisting the underwriters.
Wing Yip plans to use the funds raised through this offering in several key areas:
- Upgrading existing production lines and setting up new ones
- Marketing and promoting their products
- Research and development for new products
- General working capital and corporate needs
The company had filed a registration statement with the SEC, which became effective on November 6, 2024. This offering is backed by a formal prospectus, which investors can reach through their underwriters or directly online.
Wing Yip has a long-standing reputation in the industry, dating back to 1915. They sell a range of products under several brands, including “Wing Yip,” “Jiangwang,” and “Kuangke.” Their offerings include cured and frozen meat products, available through their own stores, distributors, and online platforms across more than 18 provinces in China. The company is committed to enhancing its products and expanding its selection to meet changing consumer tastes.
For more insights into their offerings, visit their official website at Wing Yip Food Holdings.
While this announcement contains projections about the company’s future, these statements are subject to various risks and uncertainties. Actual outcomes may vary, and investors are encouraged to consider these factors as detailed in the company’s filings with the SEC.
If you need more information, you can contact:
Wing Yip Food Holdings Group Limited
Investor Relations Department
Email: ir@wingyip-food.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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Wing Yip Food Holdings Group Limited, The Company, mainland China, Nasdaq, Company, Dawson James Securities, Inc., underwriters
