SHANGHAI, China, Dec. 9, 2024
/PRNewswire/ -- Jinxin Technology Holding Company (the
"Company") (Nasdaq: NAMI), an innovative digital content service
provider in China, today announced
the closing of its initial public offering (the "Offering") of
1,250,000 American Depositary Shares ("ADSs") at a price to the
public of US$4.00 per ADS. Each ADS
represents eighteen (18) ordinary shares of the Company. The ADSs
commenced trading on December 06,
2024 under the ticker symbol "NAMI."
The Company received aggregate gross proceeds of US$5 million from the Offering, before deducting
underwriting discounts and other related expenses. In addition, the
Company granted the underwriters a 60-day option to purchase up to
an additional 187,500 ADSs at the initial public offering
price, less underwriting discounts.
Net proceeds from the Offering will be used for (i) product and
content development; (ii) sales and marketing and brand promotions;
(iii) recruitment of experienced personnel; and (iv) other general
corporate purposes, and potential strategic investments and
acquisitions to strengthen the Company's technological capabilities
and overall ecosystem.
Craft Capital Management LLC and WestPark Capital, Inc. were the
representatives in the Offering, and R. F. Lafferty & Co., Inc.
acted as underwriter (collectively, the "Underwriters").
Kirkland & Ellis International LLP acted as
U.S. counsel to the Company, and Hunter Taubman Fischer &
Li LLC acted as U.S. counsel to the Underwriters in connection with
the Offering.
Registration statements on Form F-1 relating to the Offering
were filed with the Securities and Exchange Commission (the "SEC")
(File Number: 333-273884 and 333-278897) and, as amended, were
declared effective by the SEC on September
30, 2024. The Offering was made only by means of a
prospectus, forming a part of the registration statement. Copies of
the prospectus relating to the Offering may be obtained from Craft
Capital Management LLC at 377 Oak St, Lower Concourse,
Garden City, NY 11530, via email
at info@craftcm.com or by calling +1 800-550-8411; or from WestPark
Capital, Inc. at 1800 Century Park East, Suite 220, Los Angeles, CA 90067, via email at
jstern@wpcapital.com, or by calling +1-310-843-9300; or from R.F.
Lafferty & Co., Inc. at 40 Wall Street, 27th Floor,
New York, NY 10005, via email at
info@rflafferty.com or by calling +1-212-293-9090. In addition,
copies of the prospectus relating to the Offering may be obtained
via the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy any of the Company's securities,
nor shall such securities be offered or sold in the United States absent registration or an
applicable exemption from registration, nor shall there be any
offer, solicitation or sale of any of the Company's 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 such state or jurisdiction.
About Jinxin Technology Holding Company
Headquartered in Shanghai,
China, Jinxin Technology Holding Company is an
innovative digital content service provider in China. Leveraging the powerful digital content
generation engine powered by advanced AI/AR/VR/digital human
technologies, the Company is committed to offering users
high-quality digital content services through both its own platform
and the content distribution channels of its strong partners.
According to Frost & Sullivan, the Company was the largest
digital textbook platform in China
in terms of revenue in 2022, with a market share of 12.7%.
The Company currently target K-9 students in China, with core expertise in providing them
digital and integrated educational contents, and plan to further
expand service offerings to provide premium and engaging digital
contents to other age groups. The Company collaborates with leading
textbook publishers in China and
provides digital version of mainstream textbooks used in primary
schools and middle schools. The Company's AI-generated content
technology enables comprehensive digital contents to deliver an
interactive, intelligent and entertaining learning experience. The
Company distributes digital contents primarily through (i) its
flagship learning app, Namibox, (ii) telecom and broadcast
operators and (iii) third-party devices with our contents embedded.
For more information, please visit the company's website
at https://ir.namibox.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
find many (but not all) of these statements by the use of words
such as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "likely to" or other similar
expressions in this prospectus. The Company undertakes no
obligation to update or revise publicly any 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 other filings with the
SEC.
For more information, please contact:
Jinxin Technology Holding Company
Investor Relations Department
Email: ir@namibox.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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SOURCE Jinxin Technology Holding Company