Zhengye Biotechnology Holding Limited Announces Pricing of Initial Public Offering

IPO Details - Zhengye Biotechnology Holding Limited announced the pricing of its initial public offering (IPO) of 1,500,000 ordinary shares at $4.00 per share, with an expected gross proceeds of $6 million before deductions [1][2] - The shares are approved for listing on the Nasdaq Capital Market under the ticker symbol "ZYBT" and are expected to commence trading on January 7, 2025 [1] - The underwriters have a 45-day option to purchase an additional 225,000 ordinary shares to cover over-allotments [2] Use of Proceeds - The proceeds from the IPO will be used for acquiring vaccine production companies and conducting R&D projects [3] Underwriters and Legal Counsel - Kingswood Capital Partners, LLC is acting as the sole book-running manager for the offering [3] - Hunter Taubman Fischer & Li LLC is serving as U.S. securities counsel to the company, while VCL Law LLP is acting as U.S. counsel to Kingswood [3] Company Overview - Zhengye Biotechnology Holding Limited focuses on the research, development, manufacturing, and sales of veterinary vaccines, with an emphasis on livestock vaccines [6] - The company has 44 veterinary vaccines, including vaccines for swine, cattle, goats, sheep, poultry, and dogs, available in 28 provincial regions across China and exported to Vietnam, Pakistan, and Egypt [6] - The company operates three GMP veterinary vaccine production floors with 13 GMP vaccine production lines, one quality examination center, and one animal facility for vaccine development [6] - The company has 49 employees with over a decade of experience in the veterinary vaccine industry [6]