YanGuFang International Group (NASDAQ: YGF), a healthy food company primarily engaged in the production, research and development, and sales of oat and grain products, recently announced the closing of its initial public offering of 2,000,000 ordinary shares, each at a public offering price of US$4.00. The ordinary shares began trading on the Nasdaq Capital Market under the ticker symbol YGF on March 28, 2023. YanGuFang International Group received aggregate gross proceeds of US$8.0 million from the offering, before deducting underwriting discounts and other related expenses. The company has additionally granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares at the public offering price, less underwriting discounts. EF Hutton, division of Benchmark Investments LLC, acted as sole book-running manager for the offering. Ellenoff Grossman & Schole LLP acted as counsel to the company, and Hunter Taubman Fischer & Li LLC acted as counsel to EF Hutton in connection with the offering.
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About YanGuFang International Group Co. Ltd.
YanGuFang International Group is primarily engaged in the production, research, development and sales of oat and grain products through its massive distribution network. The company’s commitment to oats has resulted in core technical advancements that enable it to unlock the breadth of its portfolio, which is broadly categorized into oat and grain series products and oat nutrient and health series products. The company has developed over 80 products for its oat and grain series and oat nutrient and health series to meet the diversified demands of consumers. For more information, visit the company’s website at http://ir.ygfang.com.
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