February 11, 2021
On January 14, 2021, Qilian International Holding Group Limited (the “Company”), a China-based pharmaceutical and chemical products manufacturer, announced the closing of its initial public offering (“Offering”) of 5,000,000 ordinary shares at a public offering price of US$5.00 per share.
On January 19, 2021, the Company announced that the underwriters of the Offering had exercised in full of their option to purchase an additional 750,000 ordinary shares at a public offering price of $5.00 per share to cover overallotments.
The Company received aggregate gross proceeds of US$28.75 million from this Offering, including the sale of the option shares, before deducting underwriting discounts and other related expenses.
The Company’s ordinary shares began trading on the Nasdaq Global Market on January 12, 2021 under the ticker symbol “QLI.”
Hunter Taubman Fischer & Li LLC (the “Firm”) acted as U.S. counsel to the Company. Hunter Taubman Fischer & Li LLC 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.