News

Baosheng Media Group Holdings Limited Successfully Closed its Initial Public Offering

February 11, 2021

Baosheng Media Group Holdings Limited (the “Company”), a China-based online marketing solution provider, today announced the closing of its initial public offering (“Offering”) of 6,000,000 ordinary shares at a public offering price of US$5.00 per ordinary share. The Company received aggregate gross proceeds of US$30 million from this Offering, before deducting underwriting discounts and other related expenses.

Global Internet of People, Inc. Successfully Closed its Initial Public Offering

February 11, 2021

Global Internet of People, Inc. (the “Company”), an operator of a knowledge sharing and enterprise service platform via mobile application and through local centers in China, announced today the closing of its initial public offering (“IPO”) of 6,720,000 ordinary shares at a public offering price of US$4.00 per share. The Company received total gross proceeds of US$26.88 million from this IPO, before deducting underwriting discounts and other related expenses.

CN Energy Group. Inc. Successfully Closed its Initial Public Offering

February 11, 2021

CN Energy Group. Inc. (“the Company”), a China-based manufacturer and supplier of wood-based activated carbon and a producer of biomass electricity, today announced the closing of its initial public offering (“IPO”) of 5,000,000 ordinary shares at a public offering price of US$4.00 per share. The Company received aggregate gross proceeds of US$20 million from this IPO, before deducting underwriting discounts and other related expenses.chi

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CLIENT ALERT – HOLDING FOREIGN COMPANIES ACCOUNTABLE ACT

December 08, 2020

On December 2, 2020, the U.S. House of Representatives unanimously passed the bill entitled “Holding Foreign Companies Accountable Act” (the “Act”), the full text of which is available at https://www.congress.gov/bill/116th-congress/senate-bill/945, which had been passed by the U.S. Senate on May 21, 2020 and is now headed to the President for signature. If the Act is signed by the President, as anticipated, it will become law as an amendment to the Sarbanes-Oxley Act of 2002. The Act addresses the issue that the Public Company Accounting Oversight Board (the “PCAOB”) has been unable to inspect audit firms in certain “non-cooperating jurisdiction[s].” The sponsors of the Act have stated that the Act would focus on protecting American investors and their retirement savings from foreign companies that have been operating on U.S. stock exchanges while flouting Securities and Exchange Commission (the “SEC”) oversight.

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HTFL's client Univest Securities, LLC closes $21M Follow-On Offering for Ebang International Holdings Inc.

November 24, 2020

Ebang International Holdings Inc. (“EBON”), a leading Bitcoin mining machine producer, announced the initial closing of its best-efforts follow-on offering for the sale of 4 million of the 8 million units offered for sale by the Company, at a purchase price of $5.25 per unit, for aggregate gross proceeds of approximately $21 million. Each unit consists of one Class A ordinary share and one warrant to purchase one-half of one Class A ordinary share of the Company.

HTFL's Client Zhongchao Inc. Successfully Closes its IPO of US$12 Million

February 26, 2020

Zhongchao Inc. (the “Company”) (Nasdaq: ZCMD), a provider of healthcare information, professional training and educational services to healthcare professionals and the public in China, today announced the closing of the initial public offering (“IPO”) of 3,000,000 Class A ordinary shares, par value $0.0001 per share, at a price of $4.00 per share. The Company’s Class A ordinary shares began trading on the Nasdaq Capital Market on February 24, 2020 under the symbol “ZCMD.”

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