Park Ha Biological Technology Co., Ltd. Announces Closing of a US$2.45 Million Public Offering

Core Viewpoint - Park Ha Biological Technology Co., Ltd. has successfully completed a follow-on public offering, raising approximately US$2.45 million to support its expansion efforts in China [1][3]. Group 1: Offering Details - The company closed a best-efforts follow-on public offering of 21,875,000 units at an offering price of US$0.112 per unit [1]. - Each unit consists of one Class A ordinary share and one warrant to purchase one Class A ordinary share, with an exercise price of US$0.112 [2]. - The warrants are exercisable starting from the issuance date and will expire one year after the issuance [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for the expansion of directly operated stores in China, with specific allocations depending on market conditions [3]. Group 3: Company Overview - Park Ha Biological Technology Co., Ltd. was established in 2016 and focuses on developing its private skincare label and promoting franchise alliances under the brand "Park Ha" [5]. - As of April 30, 2025, the company operates three directly operated stores and has 39 franchisees in China [5]. - The company offers a "light beauty experience" as a value-added service in its stores, enhancing customer satisfaction [5].