Group 1 - China Jo-Jo Drugstores, Inc. has entered into definitive agreements for the issuance of 1.61 million ordinary shares at a price of $1.70 per share, resulting in gross proceeds of approximately $2.74 million [1] - The closing of the sale of the securities is expected to occur on or about May 17, 2024, subject to customary closing conditions [1] - The net proceeds from the offering will be used for general corporate purposes and working capital [1] Group 2 - The ordinary shares are being offered under a "shelf" registration statement on Form F-3, which was declared effective by the SEC on December 19, 2022 [2] - The offering will be conducted only by means of a prospectus, including a prospectus supplement [2] Group 3 - China Jo-Jo Drugstores operates both online and offline as a retailer and wholesale distributor of pharmaceutical and healthcare products, and provides healthcare services in China [3] - The company has an online pharmacy and retail drugstores with licensed doctors available for consultations and treatments [3]
China Jo-Jo Drugstores Announces $2.74 Million Registered Direct Offering