Jinxin Technology Holding Company (NAMI) Prices 1.25M Share IPO at $4/sh

Jinxin Technology Holding Company (NASDAQ: NAMI) an innovative digital content service provider in China, today announced the pricing of its initial public offering (the "Offering") of 1,250,000 American Depositary Shares ("ADSs") at a price to the public of US$4.00 per ADS. Each ADS represents eighteen (18) ordinary shares of the Company. The ADSs have been approved for listing on The Nasdaq Capital Market and are expected to commence trading on December 06, 2024 under the ticker symbol "NAMI."

The Company expects to receive aggregate gross proceeds of US$5 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 60-day option to purchase up to an additional 187,500 ADSs at the initial public offering price, less underwriting discounts. The Offering is expected to close on or about December 09, 2024, subject to the satisfaction of customary closing conditions.

Net proceeds from the Offering will be used for (i) product and content development; (ii) sales and marketing and brand promotions; (iii) recruitment of experienced personnel; and (iv) other general corporate purposes, and potential strategic investments and acquisitions to strengthen the Company's technological capabilities and overall ecosystem.

Craft Capital Management LLC and WestPark Capital, Inc. are acting as the representatives in the Offering, and R. F. Lafferty & Co., Inc. is acting an underwriter (collectively, the "Underwriters"). Kirkland & Ellis International LLP is acting as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to the Underwriters in connection with the Offering.

Registration statements on Form F-1 relating to the Offering were filed with the Securities and Exchange Commission (the "SEC") (File Number: 333-273884 and 333-278897) and, as amended, were declared effective by the SEC on September 30, 2024. The Offering is being made only by means of a prospectus forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained, when available, from Craft Capital Management LLC at 377 Oak St, Lower Concourse, Garden City, NY 11530, via email at [email protected] or by calling +1 800-550-8411; or from WestPark Capital, Inc. at 1800 Century Park East, Suite 220, Los Angeles, CA 90067, via email at [email protected], or by calling +1-310-843-9300; or from R.F. Lafferty & Co., Inc. at 40 Wall Street, 27th Floor, New York, NY 10005, via email at [email protected] or by calling +1-212-293-9090. In addition, copies 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 registration statement and the preliminary prospectus contained therein and the final prospectus, when available, 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.

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