SHANGHAI, July 3, 2024
/PRNewswire/ -- Eshallgo Inc ("Eshallgo" or the "Company")
(NasdaqCM: EHGO), one of the leading office solution providers in
China, today announced the closing
of its initial public offering (the "Offering") of 1,250,000 Class
A ordinary shares at a public offering price of $4 per Class A ordinary share. The Class A
ordinary shares began trading on Nasdaq Capital Market under the
ticker symbol "EHGO" on July 2,
2024.
The Company received aggregate gross proceeds of $5 million from the Offering, before deducting
underwriting discounts and other related expenses. In addition, the
Company has granted the underwriters of the Offering an option,
exercisable within 45 days from the date of the underwriting
agreement, to purchase up to an additional 187,500 Class A ordinary
shares at the public offering price, less underwriting discounts
and commissions. The Offering was conducted on a firm commitment
basis.
US Tiger Securities, Inc. and Kingswood Capital Partners, LLC
acted as co-underwriters for the Offering. Ortoli Rosenstadt LLP
served as U.S. counsel to the Company. VCL Law LLP served as U.S.
counsel to the underwriters.
A registration statement on Form F-1 (File No. 333-271478), as
amended, relating to the Offering was previously filed with the
Securities and Exchange Commission ("SEC") by the Company, and was
declared effective by the SEC on July 1,
2024. The Offering is being made only by means of a
prospectus, forming a part of the registration statement. A final
prospectus relating to the Offering has been filed with the SEC and
is available on the SEC's website at www.sec.gov. Electronic copies
of the final prospectus related to the Offering may be obtained
from US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor,
New York, New York 10022, or by
telephone at +1 646-978-5188, or from Kingswood Capital Partners,
LLC, 126 E 56th St, Suite 22S, or by telephone at +1
732-910-9692.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Eshallgo Inc
Eshallgo Inc is one of the leading office solution providers in
China with a global vision. We
specialize in two distinct market sectors: office supply sale and
leasing, and after-sale maintenance & repair. We have created
an extensive geographical presence, which expands throughout 20
provinces in China. Our mission is
to become an office integrator and service provider, offer
competitive overall office solutions and services, expand our
service market beyond office equipment, and continue to create
maximum value for customers. For more information, visit the
Company's website at http://ir.eshallgo.com/.
Forward-Looking Statements
All statements other than statements of historical fact in
this announcement are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations and projections
about future events and financial trends that the Company believes
may affect its financial condition, results of operations, business
strategy and financial needs. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and in its
other filings with the SEC.
For more information, please contact:
Investor Relations:
Sherry
Zheng
Weitian Group LLC
Phone: 718-213-7386
Email: shunyu.zheng@weitian-ir.com
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SOURCE Eshallgo Inc