April 05, 2023
JIN MEDICAL INTERNATIONAL LTD. (the “Company”) (NASDAQ: ZJYL), a Cayman Islands holding company with Chinese operating entities that manufacture and develop wheelchairs and living aids products, on March 30, 2023, announced the closing of its initial public offering (the “Offering”) of 1,000,000 ordinary shares at a public offering price of US$8.00 per ordinary share. The ordinary shares began trading on the Nasdaq Capital Market on March 28, 2023 under the ticker symbol “ZJYL.”
The Company received aggregate gross proceeds of US$8 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 150,000 ordinary shares at the public offering price, less underwriting discounts.
Prime Number Capital, LLC acted as the sole bookrunner for the Offering. SBI China Capital Financial Services Limited acted as the co-manager for the Offering. Hunter Taubman Fischer & Li LLC (“HTFL”) acted as counsel to the Company. HTFL is a boutique law firm specializing in corporate, commercial and securities transactions, cross-border financing, immigration and taxation. Our team of lawyers works together so our clients can benefit from astute business experience and sophisticated legal solutions.