Chanson (NASDAQ: CHSN), a provider of bakery, seasonal and beverage products through its chain stores in China and the United States, has announced the closing of its initial public offering of 3,390,000 Class A ordinary shares, each at a public offering price of US$4.00. The Class A ordinary shares began trading on the Nasdaq Capital Market under the ticker symbol CHSN on March 30, 2023. The company received US$13,560,000 in aggregate gross proceeds of from the offering, of which net proceeds will be used to open new stores in the United States. In addition, Chanson has granted the underwriters a 45-day option to purchase up to an additional 508,500 Class A ordinary shares at the public offering price, less underwriting discounts. EF Hutton, division of Benchmark Investments LLC, acted as the sole book-running manager for the offering. Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the company, and Ortoli Rosenstadt LLP acted as U.S. counsel to EF Hutton.
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About Chanson International Holding
Founded in 2009, Chanson is a provider of bakery, seasonal and beverage products through its chain stores in China and the United States. Headquartered in Urumqi, China, Chanson directly operates stores in Xinjiang, China, and New York, United States. Chanson currently manages 33 chain stores under the “George●Chanson” brand in Xinjiang and two stores in New York City while selling on digital platforms and third-party online food ordering platforms. Chanson offers not only packaged bakery products but also made-in-store pastries and eat-in services, serving freshly prepared bakery products and extensive beverage products. Chanson aims to make healthy, nutritious and ready-to-eat food through advanced facilities based on in-depth industry research, while creating a comfortable and distinguishable store environment for customers. Chanson’s dedicated and highly experienced product development teams constantly create new products that reflect market trends to meet customer demand. For more information, please visit the company’s website: http://ir.chanson-international.net.
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