Meihua International Medical Technologies closes USD 6M tranche

Meihua International Medical Technologies Co., Ltd. announced the closing of its previously disclosed registered direct offering with certain accredited institutional investors to purchase an initial $6 million tranche in the offering of up to $50.5 million of its 7% Original Issue Discount Senior Convertible Promissory Notes (the “Initial Notes”), and five-year ordinary share purchase warrants to purchase 1,205,255 ordinary shares of the Company (the “Initial Warrants”), exercisable at $2.9869 per ordinary share, in a concurrent private placement, for gross proceeds of approximately $5,580,000.

After deducting the placement agent’s commission and other offering expenses payable by the Company, the net proceeds to the Company were approximately $4,800,000. The Company intends to use the net proceeds for general working capital purposes.

Maxim Group LLC is acting as the sole placement agent for the offering.

The Initial Notes and the ordinary shares issuable upon conversion of the Initial Notes are being sold pursuant to a shelf registration statement on Form F-3 (File No. 333-274194), initially filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 24, 2023, amended on September 25, 2023 and September 29, 2023, and declared effective on September 29, 2023. Such securities were offered only by means of a prospectus supplement to such registration statement. Such prospectus supplement and accompanying base prospectus relating to and describing the terms of the registered direct offering were filed with the SEC on January 2, 2024. When available, copies of such prospectus supplement and accompanying base prospectus may be obtained at the SEC’s website www.sec.gov or by contacting Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at 212-895-3745.

The Initial Warrants, and the ordinary shares issuable upon exercise of the Initial Warrants, were sold in a concurrent private placement pursuant to an exemption from registration in accordance with Section 4(a)(2) of the Securities Act, as amended, and/or Regulation D promulgated thereunder.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
MB Bureau