NEW
YORK, Jan. 16, 2025 /PRNewswire/ -- Hong Kong
Pharma Digital Technology Holdings Limited ("Hong Kong Pharma" or
the "Company") (NASDAQ: HKPD), a leading provider of over the
counter ("OTC") pharmaceutical cross-border e-commerce supply chain
services in Hong Kong, today
announced the closing of its initial public offering (the
"Offering") of an aggregate of 1,403,685 ordinary shares, par value
$0.001 per share (the "Ordinary
Shares") at a public offering price of US$4.00 per share of which 1,000,000 Ordinary
Shares were offered by the Company, and 403,685 Ordinary Shares
were offered by certain selling shareholders of the Company. Hong
Kong Pharma did not receive any proceeds from the sale of ordinary
shares by the selling shareholders. The Company's Ordinary Shares
began trading on the Nasdaq Capital Market on January 15, 2025 under the ticker symbol
"HKPD."
The aggregate gross proceeds from the Offering were $5,614,740, before deducting underwriting
discounts and other related expenses, including $4,000,000 received by the Company and
$1,614,740 received by the selling
shareholders of the Company. In addition, the Company has granted
the underwriters a 45-day option to purchase up to 150,000 Ordinary
Shares to cover over-allotments at the initial public offering
price, less underwriting discounts. The Company intends to use the
net proceeds for the development and upgrade of its supply chain
enterprise resource planning systems; to fund the procurement of
warehouse equipment to improve efficiency; to fund the expansion of
its sales and marketing team to accelerate the growth of its
business; and to fund general working capital and for other general
corporate purposes.
The Offering was conducted on a firm commitment basis. Bancroft
Capital, LLC is acting as the lead underwriter, with Eddid
Securities USA Inc. acting as a
co-underwriter for the Offering. Bevilacqua PLLC acted as U.S.
securities counsel to the Company, and Ortoli Rosenstadt LLP acted
as U.S. securities counsel to the lead underwriter in connection
with the Offering.
A registration statement on Form F-1 (File No. 333-282876)
relating to the Offering, as amended, was previously filed with the
U.S. Securities and Exchange Commission (the "SEC") and was
declared effective by the SEC on December
20, 2024. The Offering was made only by means of a
prospectus, copies of which may be obtained from: Bancroft Capital,
LLC, by standard mail to 501 Office Center Drive, Suite 130
Fort Washington, PA 19034, by
email at InvestmentBanking@bancroft4vets.com, or by telephone at
(+1) 484-546-8000; or Eddid Securities USA Inc., by standard mail to 40 Wall Street,
Suite 1606, New York, NY 10005, by
email at ecm@eddidusa.com, or by telephone at (+1) 212-363-6888.
Copies of the final prospectus filed with the SEC on January 15, 2025 and the registration
statement can be accessed via the SEC's website at
www.sec.gov.
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 Hong Kong Pharma Digital Technology Holdings
Limited
Hong Kong Pharma Digital Technology Holdings Limited offers two
main categories of services: (i) OTC pharmaceutical cross-border
e-commerce supply chain services through its Hong Kong subsidiary, Joint Cross Border
Logistics Company Limited ("Joint Cross Border"), and (ii) OTC
pharmaceutical cross-border procurement and distribution through
its Hong Kong subsidiary,
V-Alliance Technology Supplies Limited.
Through its engagement with OTC pharmaceutical suppliers,
logistics companies, and merchants on Chinese e-commerce platforms,
Joint Cross Border provides a convenient one-stop solution for
Mainland Chinese customers seeking access to OTC pharmaceutical
products outside Mainland China.
Joint Cross Border's comprehensive service offerings include
pre-consultation, product information review, procuring overseas
OTC pharmaceutical products, enlisting products with the Hong Kong
Department of Health, obtaining import and export permits, storing
products, packaging, and arranging logistics and end-to-end
delivery services for customers. For more information, please visit
the Company's website: www.9zt.hk.
Forward-Looking Statements
All forward-looking statements, expressed or implied, in this
release are based only on information currently available to us and
speak only as of the date on which they are made. Investors can
find many (but not all) of these statements by the use of words
such as "approximates," "believes," "hopes," "expects,"
"anticipates," "estimates," "projects," "intends," "plans," "will,"
"would," "should," "could," "may" or other similar expressions in
this release. Except as otherwise required by applicable law, we
disclaim any duty to publicly update any forward-looking statement
to reflect events or circumstances after the date of this release.
These statements are subject to uncertainties and risks, including,
but not limited to, the uncertainties related to market conditions,
and other factors discussed in the "Risk Factors" section of the
registration statement for the Offering filed with the SEC.
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.
Additional factors are discussed in the Company's filings with the
SEC, which are available for review at www.sec.gov.
For more information, please contact:
Media
Contact: pr@9zt.hk, hevintam@anpa.com.hk
Investor Relations: ir@9zt.hk
Standard mail: Hong Kong Pharma Digital Technology
Holdings Limited, Room B1, 5/F., Well Town Industrial Building, 13
Ko Fai Road, Yau Tong, Kowloon, Hong Kong
Telephone: +852 2618-9289
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SOURCE Hong Kong Pharma Digital Technology Holdings Limited
