IT TECH PACKAGING ANNOUNCES PRICING OF $1.4 MILLION PUBLIC OFFERING

Company Overview - IT Tech Packaging Inc. is a leading manufacturer and distributor of diversified paper products in North China, founded in 1996 [5] - The company primarily uses recycled paper as its raw material, except for tissue paper products, and produces three categories: corrugating medium paper, offset printing paper, and tissue paper products [5] - IT Tech Packaging is strategically located in Baoding and Xingtai, Hebei Province, close to major markets in Beijing and Tianjin [5] - The company has been listed on the NYSE American since December 2009 [5] Recent Offering - IT Tech Packaging announced a public offering of 6,899,500 shares of its common stock at a price of $0.20 per share, expecting gross proceeds of approximately $1.4 million before fees and expenses [1] - The offering is expected to close on May 14, 2025, subject to customary closing conditions [1] - Maxim Group LLC is acting as the sole placement agent for this offering [2] Use of Proceeds - The net proceeds from the offering will be used for working capital and other general corporate purposes [2] Regulatory Information - A shelf registration statement for the shares was filed with the SEC on April 3, 2023, and declared effective on April 14, 2023 [3] - The offering is being made only by means of a written prospectus and prospectus supplement [3]