Jowell Global Ltd. Announces Pricing of $26 Million Initial Public Offering
March 17 2021 - 12:00AM
Jowell Global Ltd. (“JWEL” or the “Company”) (NASDAQ: JWEL), a
company which operates one of the leading cosmetics, health and
nutritional supplements and household products e-commerce platforms
Juhao Mall in China, today announced the pricing of its
underwritten initial public offering of 3,714,286 ordinary shares
at a price of $7.00 per share, for total gross proceeds of $26
million before deducting underwriting discounts and offering
expenses. The offering is being conducted on a firm commitment
basis. All of the ordinary shares are being offered by the Company.
The ordinary shares have been approved for listing on The Nasdaq
Capital Market and are expected to commence trading today, March
17, 2021, under the ticker symbol “JWEL”.
The Company has granted the underwriters an
option, exercisable within 45 days from the date of the final
prospectus, to purchase up to an additional 557,143 ordinary shares
at the public offering price, less underwriting discounts.
The offering is expected to close on March 19,
2021, subject to customary closing conditions.
Network 1 Financial Securities, Inc. is acting
as sole book runner and lead underwriter for the offering and
Alexander Capital, LP. is acting as co-underwriter.
A registration statement on Form F-1 (File No.
333-250889) relating to the offering has been filed with the
Securities and Exchange Commission (“SEC”) and was declared
effective by the SEC on March 16, 2021. The offering is being made
only by means of a final prospectus, forming a part of the
registration statement. Copies of the final prospectus related to
the offering may be obtained, when available, from Network 1
Financial Securities, Inc. by email at kmu@netw1.com, or via
standard mail to Network 1 Financial Securities, Inc., 2 Bridge
Avenue, Suite 241 Red Bank, NJ 07701. In addition, a copy of the
final prospectus relating to the offering may be obtained via the
SEC's website at www.sec.gov.
Before you invest, you should read the final
prospectus and other documents the Company has filed or will file
with the SEC for more complete information about the Company and
the offering. 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 Jowell Global Ltd.
Jowell Global Ltd. (the “Company”) operates one
of China's leading e-commerce platforms for cosmetics, health and
nutritional supplements and household products - Juhao Mall. The
Company provides its own brand products to customers and sells and
distributes other companies' health and nutritional supplements,
cosmetics and certain household products on the Juhao Mall
platform. In addition, Juhao Mall allows third parties to open
their own stores on its platform. The Company has also been selling
its products through authorized retail stores all across China,
which operate under the brand name of “Love Home Store” or “LHH
Store”. For more information, please visit
https://www.1juhao.com/.
Forward-Looking Statement
This press release contains forward-looking
statements as defined by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as “may, “will, “intend,” “should,” “believe,”
“expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Specifically, the
Company’s statements regarding trading on the NASDAQ Capital Market
and closing the initial public offering are forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company’s expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company’s goals and strategies; the Company’s
future business development; financial condition and results of
operations; product and service demand and acceptance; reputation
and brand; the impact of competition and pricing; changes in
technology; government regulations; fluctuations in general
economic and business conditions in China and assumptions
underlying or related to any of the foregoing and other risks
contained in reports filed by the Company with the SEC. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the Company’s filings with the
SEC, which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward‐looking
statements to reflect events or circumstances that arise after the
date hereof.
For more information, please contact:
Investor Relations:Janice Wang EverGreen
Consulting Inc. Email: IR@changqingconsulting.comPhone: +1
571-464-9470 (from U.S.)
+86 13811768559 (from China)
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