Jerash Holdings Inc. (JRSH) Prices 1M Share Offering at $7

Jerash Holdings, Inc. (NASDAQ: JRSH) announced the pricing of an underwritten public offering of 1,000,000 shares of its common stock at a public offering price of $7.00 per share. In addition, Merlotte Enterprise Limited, a stockholder of Jerash, is selling 400,000 shares of Jerash's common stock in the offering at the same price. The selling stockholder has also granted the underwriters a 30-day option to purchase up to an additional 210,000 shares of common stock, on the same terms and conditions, to cover over-allotments, if any. The offering is expected to close on October 4, 2021, subject to customary closing conditions.

D.A. Davidson & Co. and Lake Street Capital Markets, LLC are acting as joint book-running managers for this offering. The Company intends to use the net proceeds from the offering to fund future expansion of its production capacity and for working capital and general corporate purposes. Jerash will not receive any proceeds from the sale of shares by the selling stockholder.

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