YSX TECH. CO., LTD Announces Pricing of Its Initial Public Offering
December 17 2024 - 5:18PM
YSX TECH. CO., LTD (the “Company” or “YSXT”), a
Cayman Islands exempted company that, through its variable interest
entities in China, provides comprehensive business solutions mainly
for insurance companies and brokerages in China, today announced
the pricing of its initial public offering (the “Offering”) of
1,250,000 Class A ordinary shares (the “Ordinary Shares”) at a
public offering price of $4.00 per share for total gross proceeds
of approximately $5,000,000, before deducting underwriting
discounts and other offering expenses. The Ordinary Shares have
been approved for listing on the Nasdaq Capital Market and are
expected to commence trading on December 18, 2024, under the ticker
symbol “YSXT”.
The Company has granted the underwriters an
option, exercisable within 45 days from the closing date of the
Offering, to purchase up to an additional 187,500 Ordinary Shares
at the public offering price, less underwriting discounts, to cover
the over-allotment, if any.
The Offering is expected to close on December 19, 2024, subject
to the satisfaction of customary closing conditions.
The Offering is being conducted on a firm
commitment basis. Kingswood Capital Partners, LLC is acting as the
sole book-runner. Hunter Taubman Fischer & Li LLC is
acting as U.S. securities counsel to the Company, and Greenberg
Traurig, LLP is acting as U.S. counsel to the underwriters, in
connection with the Offering.
The Company intends to use the proceeds from
this Offering for business expansion and developing new geographic
markets, product research and development, talent recruiting, as
well as working capital and general corporate purposes.
A registration statement on Form F-1 (File No.
333-280312) relating to the Offering, as amended, has been filed
with the U.S. Securities and Exchange Commission (the “SEC”) and
was declared effective by the SEC on December 17, 2024. The
Offering is being made only by means of a prospectus. Electronic
copies of the final prospectus related to the Offering may be
obtained, when available, from Kingswood Capital Partners LLC: 126
E 56th St, Suite 22S, New York, NY 10022, or by telephone at
+1 732- 910- 9692. In addition, a copy of the final prospectus can
also 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 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 YSX TECH. CO., LTD
Primarily operating in Xinjiang and Guangdong
provinces, YSX TECH. CO., LTD is a Cayman Islands exempted company
that, through its variable interest entities in China, provides
comprehensive business solutions mainly for insurance companies and
brokerages in China. The Company possesses in-depth knowledge of
the Chinese insurance industry accumulated from years of servicing
customers, and specializes in auto insurance aftermarket
value-added services, software development and information
technology services, as well as other scenario-based customized
services, such as products and customer development services. For
more information please visit: https://ir.ysxtechcay.com and
https://www.ysxnet.com.
Forward-Looking Statement
This press release contains forward-looking
statements. 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. These forward-looking statements
include, without limitation, the Company's statements regarding the
expected trading of its Ordinary Shares on the Nasdaq Capital
Market and the closing of the Offering. 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
uncertainties related to market conditions and the completion of
the initial public offering on the anticipated terms or at all, and
other factors discussed in the “Risk Factors” section of the
registration statement filed 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:
YSX TECH. CO., LTDmarketing@ysxnet.com +86 (20)
2984 2002
Investor RelationsWFS Investor
Relations Inc.Janice WangEmail: services@wealthfsllc.com
Phone: +86 13811768599+1 628 283 9214
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