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WORK Medical Technology Group LTD Announces Pricing of Registered Offering
Globenewswireยท 2025-05-21 13:00
Core Viewpoint - WORK Medical Technology Group LTD is conducting a registered offering of 10,000,000 ordinary and pre-funded units to raise funds for various corporate purposes, including upgrading production equipment and R&D investments [1][3]. Group 1: Offering Details - The offering price is set at $0.50 per Ordinary Unit and $0.4995 per Pre-funded Unit [1]. - Each Ordinary Unit includes one Class A ordinary share, one Series A warrant, and one Series B warrant, while each Pre-funded Unit consists of one pre-funded warrant, one Series A warrant, and one Series B warrant [2]. - The Company expects to receive gross proceeds of $5.0 million from the offering before deducting expenses [3]. Group 2: Use of Proceeds - Proceeds will be allocated for upgrading production equipment, investing in R&D, hiring experienced employees for compliance improvements, and general corporate purposes [3]. Group 3: Company Overview - WORK Medical is a supplier of medical devices in China, developing and manufacturing Class I and II medical devices, with a diverse product portfolio of 21 products [6]. - The Company has sold products in 34 provincial-level regions in China and in over 30 countries globally, with 17 products registered with the U.S. FDA [6].