Shineco (TYHT) Prices 1.71M Common Stock IPO at $4.50/Share, at Lower-End of Expected Range
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Shineco, Inc. (Nasdaq: TYHT), 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 the pricing of its initial public offering (IPO") of 1,713,190 common shares at a price of $4.50 per share. Shineco's common shares are expected to begin trading on the NASDAQ Capital Market on September 28, 2016 under the symbol "TYHT".
*** Note: The company was recently looking for a pricing range of $4 - $6 per share.
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.
The Offering of the securities is made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained by contacting Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241, Red Bank, New Jersey 07701, Attention: Damon Testaverde, Managing Director, Investment Banking or email firstname.lastname@example.org or by calling +1 (800)-886-7007.
Shineco also announced today the launch of its investor website at www.shinecobiotech.com. Investors may visit this website for information about the Company, its SEC filings, press releases and other information of interest to current and potential investors. The investor website is not a part of the IPO prospectus.
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