IPO Digital Background


Neurological wellness products marketer Zhong Yuan Bio-Technology Holdings (OTCPK:ZHYBF) has filed to raise up to $15M through a US public offering and uplist its shares to Nasdaq.

The Hong-Kong based holding company, which operates through a subsidiary in China called Bao Feng, didn’t disclose in its filing the number or price of the shares to be offered, but indicated in an attached filing fee schedule that it was looking to raise up to $15M.

Zhong Yuan shares are currently traded OTC under the symbol ZHYBF. The company is hoping to list its shares on Nasdaq. Revere Securities is serving as lead bookrunner.

The company’s subsidiary Bao Feng is focused on developing and marketing nervonic acid-based drugs and supplements for neurological health, along with tests for the early detection of certain neurological disorders.

For the year ended March 31, 2022, Zhong Yuan reported a net loss of $1.1M with sales of $2.3M.

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Image and article originally from seekingalpha.com. Read the original article here.

By admin