Jin Medical International Ltd. (the “Company” or “JinMed”) (NASDAQ:ZJYL), a Cayman Islands holding company with Chinese operating entities that manufacture and develop wheelchairs and living aids products, today announced the pricing of its initial public offering (the “Offering”) of 1,000,000 ordinary shares (the “Ordinary Shares”) at a public offering price of $8.00 per share for total gross proceeds of $8,000,000, before deducting underwriting discounts and offering expenses. The Ordinary Shares have been approved for listing on The Nasdaq Capital Market and are expected to commence trading on March 28, 2023, under the ticker symbol “ZJYL”.
The Company has granted the underwriters an option, within 45 days from the closing date of the Offering, to purchase up to an additional 150,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover over-allotment, if any.
The Offering is expected to close on March 30, 2023, subject to customary closing conditions.
