Haoxi Health Technology prices 4M units at $3.00 in follow-on public offering

Haoxi Health Technology announced the pricing of its underwritten follow-on public offering of 4,000,000 units at an offering price of $3.00 per Unit for total gross proceeds of $12,000,000, before deducting underwriting discounts and other offering expenses. Each Unit consists of one share of Class A Ordinary Share, par value $0.0001 per share, one Series A warrant to purchase one Class A Ordinary Share and one Series B warrant to purchase such number of Class A Ordinary Share described in the prospectus of the Offering. The Warrants will have a term of 5 years from the closing date of the Offering. The Series A Warrant is exercisable immediately upon issuance, or the Closing Date. The Series B Warrant is exercisable at any time on or after the sixteenth calendar day from the Closing Date. The Series A Warrants have an initial exercise price of $3.00 per Class A Ordinary Share. On the Series B Exercise Date, the exercise price of the Series A Warrant will be adjusted to $0.60 and the maximum number of Class A Ordinary Shares issuable upon exercise of the Series A Warrants will be adjusted to 20,000,000 shares. The exercise price of the Series B Warrants is $0.0001 per Class A Ordinary Share. The maximum number of shares issuable upon exercise of the Series B Warrants will be 16,000,000 shares. The Units have no stand-alone rights and will not be certificated or issued as stand-alone securities. The Class A Ordinary Shares, the Pre-Funded Warrants, and related Warrants are immediately separable and will be issued separately in the Offering. The Offering is being conducted on a firm commitment basis. The Company has granted EF Hutton, the underwriter, an option, within 45 days from the Closing Date, to purchase up to an additional 600,000 Units at the Public Offering Price, less underwriting discounts, to cover the over-allotment option. The Offering is expected to close on or about September 20, 2024, subject to the satisfaction of customary closing conditions.