$TYHT: Shineco, Inc. Completes Initial Public Offe
Post# of 22755
Posted On: 09/28/2016 1:30:42 PM
$TYHT: Shineco, Inc. Completes Initial Public Offering
Shineco, Inc. ("Shineco" or the "Company"
, a producer and distributor of Chinese herbal medicines, organic agricultural produce, specialized textiles, and other health and well-being focused plant-based products in China, today announced that it completed the initial public offering ("IPO" of its common shares on September 27, 2016. The Company raised approximately $7.7 million in gross proceeds through the issuance of 1,713,190 common shares at a price of $4.50 per share. Shineco's common shares will begin trading today at approximately 10:35 AM EST on the NASDAQ Capital Market under the symbol "TYHT".
Network 1 Financial Securities, Inc. acted as Underwriter for the offering. Monarch Bay Securities, LLC participated as a Selected Dealer.
Shineco's registration statement relating to the IPO has been filed with, and declared effective by, the United States Securities and Exchange Commission ("SEC". This press release does not constitute an offer to sell or a 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Shineco, Inc. ("Shineco" or the "Company"
, a producer and distributor of Chinese herbal medicines, organic agricultural produce, specialized textiles, and other health and well-being focused plant-based products in China, today announced that it completed the initial public offering ("IPO" of its common shares on September 27, 2016. The Company raised approximately $7.7 million in gross proceeds through the issuance of 1,713,190 common shares at a price of $4.50 per share. Shineco's common shares will begin trading today at approximately 10:35 AM EST on the NASDAQ Capital Market under the symbol "TYHT". Network 1 Financial Securities, Inc. acted as Underwriter for the offering. Monarch Bay Securities, LLC participated as a Selected Dealer.
Shineco's registration statement relating to the IPO has been filed with, and declared effective by, the United States Securities and Exchange Commission ("SEC"
. This press release does not constitute an offer to sell or a 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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