Company Overview - China Jo-Jo Drugstores Inc is a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products in China [3] - The company operates an online pharmacy and retail drugstores with licensed doctors on site for consultation, examination and treatment of common ailments [3] - It also serves as a wholesale distributor of products similar to those carried in its pharmacies [3] Capital Raising Activity - The company has entered into definitive agreements with investors for the issuance of 1,980,000 ordinary shares at $1.70 per share in a registered direct offering [1] - The total gross proceeds from the offering are approximately $3.37 million [1] - The closing of the securities sale is expected to occur on or about June 26, 2024, subject to customary closing conditions [1] - The net proceeds will be used for general corporate purposes and working capital [1] Regulatory Information - The offering is being made pursuant to a shelf registration statement on Form F-3 (File No 333-259692) declared effective by the SEC on December 19, 2022 [2] - The ordinary shares may only be offered through a prospectus and prospectus supplement forming part of the effective registration statement [2] Contact Information - Company contact: Frank Zhao, Chief Financial Officer, +86-571-88077108, [email protected] [4] - Investor relations contact: Tina Xiao, Ascent Investor Relations LLC, +1-646-932-7242, [email protected] [5]
China Jo-Jo Drugstores Announces $3.37 Million Registered Direct Offering