Univest Securities, LLC Announces the Full Exercise of Underwriter’s Over-Allotment Option for its Client Universe Pharmace...
March 31 2021 - 4:30PM
Univest Securities, LLC (“Univest”), a member of FINRA and SIPC, is
a full-service investment bank and securities broker-dealer firm
based in New York, today announced it has exercised in full of its
option to purchase an additional 750,000 ordinary shares of the
previously announced initial public offering (the "Offering") for
its client Universe Pharmaceuticals INC (the “Company”, Nasdaq:
UPC), a pharmaceutical producer and distributor in China, during
which Univest acted as the underwriter and sole book-running
manager. The overallotment was offered at the public offering price
of $5.00 per share, resulting in additional gross proceeds of $3.75
million. After giving effect to the full exercise of the
over-allotment option, the total number of shares sold by the
Company in the Offering increased to 5.75 million shares and gross
proceeds increased to $28.75 million. The exercise of the
over-allotment option has closed on March 31, 2021.
Proceeds from the Offering will be used for
upgrading and expanding the Company’s manufacturing facilities,
conducting research and development, branding, advertising and
marketing, and for working capital and general corporate
purposes.
The Offering was conducted on a firm commitment
basis. Univest Securities, LLC acted as the underwriter and
book-running manager for the Offering. Hunter Taubman Fischer &
Li LLC acted as counsel to the Company, and Pryor Cashman LLP acted
as counsel to Univest Securities, LLC in connection with the
Offering.
A registration statement on Form F-1 relating to
the Offering was filed with the Securities and Exchange Commission
(“SEC”) (File Number: 333-248067) and was declared effective by the
SEC on March 22, 2021. This Offering was made only by means of a
prospectus, forming a part of the registration statement. Copies of
the final prospectus relating to the Offering may be obtained from
Univest Securities, LLC, by email at IBAssistDesk@univest.us or
standard mail to Univest Securities, LLC, Attn: 375 Park Avenue,
15th Floor, New York, NY 10152. In addition, a copy of the
prospectus relating to the Offering may be obtained via the SEC's
website at www.sec.gov.
Before you invest, you should read the
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 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 Univest Securities, LLC
Registered with FINRA since 1994, Univest
Securities, LLC provides a wide variety of financial services to
its institutional and retail clients globally including brokerage
and execution services, sales and trading, market making,
investment banking and advisory, wealth management. It strives to
provide clients with value-add service and focuses on building
long-term relationship with its clients. For more information,
please visit: www.univest.us.
About Universe Pharmaceuticals INC
Universe Pharmaceuticals INC, headquartered in
Ji’an, Jiangxi, China, is a pharmaceutical producer and distributor
in China. The Company specializes in the manufacturing, marketing,
sales and distribution of traditional Chinese medicine derivatives
products targeting the elderly with the goal of addressing their
physical conditions in the aging process and to promote their
general well-being. The Company also distributes and sells
biomedical drugs, medical instruments, Traditional Chinese Medicine
Pieces, and dietary supplements manufactured by third-party
pharmaceutical companies. Currently, the Company’s products are
sold in 30 provinces of China. For more information, visit the
Company’s website at http://www.universe-pharmacy.com/.
Forward-Looking Statements
This document contains forward-looking
statements. In addition, from time to time, we or our
representatives may make forward-looking statements orally or in
writing. We base these forward-looking statements on our
expectations and projections about future events, which we derive
from the information currently available to us. Such
forward-looking statements relate to future events or the future
performance of the Company, including: its financial performance
and projections; its growth in revenue and earnings; and its
business prospects and opportunities. You can identify
forward-looking statements by those that are not historical in
nature, particularly those that use terminology such as “may,”
“should,” “expects,” “anticipates,” “contemplates,” “estimates,”
“believes,” “plans,” “projected,” “predicts,” “potential,” or
“hopes” or the negative of these or similar terms. Forward-looking
statements are only predictions. The forward-looking events
discussed in this document and other statements made from time to
time by us or our representatives, may not occur, and actual events
and results may differ materially and are subject to risks,
uncertainties and assumptions about us. We are not obligated to
publicly update or revise any forward-looking statement, whether as
a result of uncertainties and assumptions, the forward-looking
events discussed in this document and other statements made from
time to time by us or our representatives might not occur.
For more information, please contact:
Univest Securities, LLCEdric
GuoExecutive Director of Investment
Banking375 Park Avenue #1502New York, NY 10152Phone: (212)
343-8888Email: info@univest.us
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