Regencell Bioscience Holdings Limited Announces Pricing of Approximately $21.9 Million Initial Public Offering
Regencell Bioscience Holdings Limited (NASDAQ:RGC) (“Regencell” or the “Company”), an early-stage bioscience company that focuses on research, development and commercialization of Traditional Chinese Medicine (“TCM”) for the treatment of neurocognitive disorders and degeneration, specifically Attention Deficit Hyperactivity Disorder (“ADHD”) and Autism Spectrum Disorder (“ASD”), today announced the pricing of its initial public offering (“Offering”) of 2,300,000 ordinary shares at a public offering price of $9.50 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on July 16, 2021 under the ticker symbol “RGC.”
Regencell expects to receive aggregate gross proceeds of approximately $21.9 million from this Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 345,000 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about July 20, 2021, subject to the satisfaction of customary closing conditions.
Proceeds from the Offering will be used to fund the second research study, the Company’s TCM formulae and products, staff salaries, facilities rental, renovations and equipment, product and intellectual property registrations, and working capital and other general corporate purposes.
The Offering is being conducted on a firm commitment basis. Maxim Group LLC is acting as sole book-running-manager for the Offering.
Hunter Taubman Fischer & Li LLC is acting as counsel to the Company, and Loeb & Loeb LLP is acting as counsel to Maxim Group 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: 333-254571) and was declared effective by the SEC on July 15, 2021. The Offering is being 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 Maxim Group LLC, 300 Park Ave, 16th Floor, New York, NY 10022, at (212) 895-3745. 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 Regencell Bioscience Holdings Limited
Regencell Bioscience Holdings Limited is an early-stage bioscience company that focuses on research, development and commercialization of TCM for the treatment of neurocognitive disorders and degeneration, specifically ADHD and ASD. The Company started in Hong Kong in 2014 and completed its first research study using personalized TCM formula in Hong Kong. The Company aims to launch three liquid-based standardized TCM formulae candidates for mild, moderate and severe ADHD and ASD patients in Hong Kong first and subsequently to other markets as we deem appropriate.
All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. 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 in its other filings with the SEC.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Chief Strategy Officer
Regencell Bioscience Holdings Limited
For investors in Asia Region:
Strategic Financial Relations Limited
Vicky Lee (852) 2864 4834
Brigid Lee (852) 2114 4313
Yvonne Lee (852) 2864 4847
For investors outside of Asia Region:
The Equity Group Inc.
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Developing Telecoms: A Green Road to a Greener Future: MTN at BWS 202120.10.2021 18:00:00 CEST | Press release
Developing Telecoms reported that lowering carbon emissions has become an increasing priority for the largest players in the telecoms sector due to the role that ICT can play in helping other industries decarbonizes. At the Better World Summit for Green ICT held at Huawei’s Innovation Lab in Dubai, various speakers explored how the ICT industry will be able to facilitate a greener society – and why this was particularly important in emerging markets regions, including Africa. MTN Group executive, Chief Procurement Officer Dirk Karl took the stage to discuss how operators had a role to play in emerging markets. Karl described this beyond simply the purpose of business – operators have responsibility to enable everyone the benefits of a modern, connected life, and MTN is still deploying and densifying networks in Africa. “Our work is not just about flourishing the business – it has a purpose, and this was proven under COVID, of being system-relevant to our wider economies in order to con
Verimatrix Announces Third Quarter 2021 Revenue20.10.2021 17:45:00 CEST | Press release
Regulatory News: Verimatrix (Paris:VMX) today announced its revenue for the third quarter ended September 30, 2021. Amedeo D’Angelo, Chairman and CEO, commented: “During the third quarter, we executed the implementation of our accelerated shift toward a subscription-based business, including through SaaS offerings. It included further developing the go-to-market strategy as well as reviewing organization and expenses to ensure we are spending and investing in alignment with our strategy. At the same time, we continue to expand our cloud-based offerings, as illustrated with the release of the Verimatrix Multi-DRM Core service earlier in 2021. Verimatrix is experiencing continuous growth of its SaaS business, as illustrated with the sequential growth of the ARR, even though products and offerings have not yet been changed to be subscription-only and “cloud first.” This growth should be further supported by new SaaS products going live throughout 2022. Additionally, the shift in our contr
NetApp Expands Hybrid Cloud Solutions Portfolio to Unlock Best of Cloud20.10.2021 17:00:00 CEST | Press release
Today at INSIGHT 2021, NetApp® (NASDAQ: NTAP), a global cloud-led, data-centric software company, announced new additions and enhanced capabilities across its hybrid cloud portfolio to help organizations modernize their IT infrastructures and accelerate digital transformation. Delivering new secure ways to consume and operate data services on-premises and in the cloud, NetApp hybrid cloud solutions make it simpler for enterprise customers to put their data to work — wherever and whenever they need it. As the only solutions provider with native integrations for the world’s largest public clouds, NetApp’s industry leading ONTAP® software continues to serve as the foundation for hybrid cloud. With the latest release of ONTAP, NetApp is introducing enhanced protection against ransomware, expanded data management capabilities, and NVMe/TCP support for accelerated performance. The company is also announcing new digital wallet capabilities for NetApp Cloud Manager and enhanced data services f
NetApp Simplifies and Speeds Digital Transformation for Customers Through Deep, Industry-Leading Public Cloud Relationships20.10.2021 17:00:00 CEST | Press release
NetApp (NASDAQ: NTAP) a global, cloud-led, data-centric software company, today announced continued growth and momentum helping organizations unlock the best of cloud at less cost, through its collaboration with the world’s three largest public clouds. NetApp’s expansion in the cloud has been driven by customers and supported by these partnerships, accelerating NetApp’s public cloud services’ customer and financial growth by bringing its leading CloudOps and ITOps solutions to existing and new addressable customers. Furthering its investment in the cloud, NetApp acquired Data Mechanics in early fiscal year (FY)’22, and this month announced the intent to acquire CloudCheckr to bolster the Spot by NetApp portfolio’s existing continuous cloud optimization capabilities. This growth, driven by NetApp’s ONTAP data management software, which provides high-performance shared storage for file and block workloads, has propelled the native integration of NetApp’s cloud file services into each of
SkyHive Raises $40M Series B to Reskill Workforces and Advance the Digital Labor Economy20.10.2021 16:00:00 CEST | Press release
SkyHive (the “Company”), the SaaS platform providing workforce transformation and labor market development guidance, today announced a $40 million Series B investment round led by Eldridge, with participation from other investors Allegis Cyber, Accenture Ventures, Workday Ventures, and the Partnership Fund For New York City. Recently recognized by The World Economic Forum as a 2021 Technology Pioneer, SkyHive is solving dislocation in modern labor economics and human capital management using its proprietary Quantum Labor Analysis (QLA) methodology, which is active in 90 countries and 400,000 unique locations worldwide. QLA combines economic theory, workforce modelling, human analytics, and data science to provide real-time insights on workforces and external labor markets. The platform also identifies high-value emerging skillsets and actively helps organizations reskill their professionals. “Reskilling the world at scale and with pace is only achieved by successfully blending art and
Silicon Valley Veterans Launch pulsESG™ — an Integrated SaaS Platform for Enterprise ESG Analysis with $8.5M in Seed Funding from Impact-Driven Investors20.10.2021 15:00:00 CEST | Press release
pulsESG™ today announced the launch of its enterprise environmental, social, and governance (ESG) software as a service (SaaS) platform backed by $8.5 million in seed funding from leading impact-driven investors and led by two Silicon Valley enterprise software veterans. The platform distinguishes itself in the marketplace through features such as model-driven architecture and full integration with both internal sources of data and external investor-facing systems, empowering companies to track and derive insights for ESG compliance and improvement based on stakeholder requirements. The company emerged from stealth mode today and the product is expected to be made generally available in Q1 2022. Led by tech veterans and co-founders Murat Sönmez and Inderjeet Singh, the pulsESG™ platform is designed to take a different approach to ESG analysis than what currently exists in the marketplace by providing comprehensive, auditable, and accurate deep analytics that can be integrated with both
Interaxon Inc. (Muse®) Launches the Latest in Non-Pharmaceutical Sleep Support: EEG-Powered ‘Digital Sleeping Pills’ That Provide Immediate & Intelligent Support for Falling Asleep & Nighttime Interruptions20.10.2021 15:00:00 CEST | Press release
Interaxon Inc. (Muse®), a leading consumer neurotechnology and meditation company, today announced the launch of the second generation of its popular EEG meditation & sleep headband, Muse S. This updated plush brain-sensing headband uses real-time biofeedback to help you learn the art of mediation as well as help you fall asleep, stay asleep and now go back to sleep if you awaken during the night. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211020005215/en/ Muse today announced the launch of the second generation of its popular EEG meditation & sleep headband, Muse S. This updated plush brain-sensing headband uses real-time biofeedback to help you learn the art of mediation as well as help you fall asleep, stay asleep and now go back to sleep if you awaken during the night. (Photo: Business Wire) Alongside the launch of the updated Muse S headband, Interaxon is launching an intelligent new kind of EEG-powered sleep experi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom