Full Press Release Details
Hong Kong Pharma Digital Technology Holdings Limited Announces Pricing
of Initial Public Offering
**Hong Kong, January 14, 2025 / / -- Hong Kong
Pharma Digital Technology Holdings Limited ("Hong Kong Pharma" or the "Company"), a leading provider of OTC pharmaceutical
cross-border e-commerce supply chain services in Hong Kong, today announced the pricing of its initial public offering (the "Offering")
of an aggregate of 1,403,685 ordinary shares of par value $0.001 per share (the "Ordinary Shares"), at a public offering price
of US$4.00 per share, of which 1,000,000 Ordinary Shares are offered by Hong Kong Pharma and 403,685 Ordinary Shares are offered by the
selling shareholders of the Company. The Company expects to receive aggregate gross proceeds of US$4 million from the Offering, before
deducting underwriting discounts and other related expenses. The Company will not receive any proceeds from any sale of Ordinary Shares
by the selling shareholders. In addition, the Company has granted the underwriters a 45-day option (the "Over-Allotment Option")
to purchase up to 150,000 Ordinary Shares to cover over-allotments at the initial public offering price, less underwriting discounts.
The Company's Ordinary Shares are expected to begin trading on January 15, 2025, U.S. Eastern time, on the Nasdaq Capital Market under
the ticker symbol "HKPD". The Offering is expected to close on January 16, 2025, subject to customary closing conditions.
The Company expects to receive net proceeds from
the Offering of approximately US$2.9 million, or approximately US$3.5 million if the Over-Allotment Option is exercised in full, after
deducting underwriting discounts and the estimated offering expenses payable by us. The Company intends to use the net proceeds for the
development and upgrade of its supply chain enterprise resource planning systems; to fund the procurement of warehouse equipment to improve
efficiency; to fund the expansion of its sales and marketing team to accelerate the growth of its business; and to fund general working
capital and for other general corporate purposes.
The Offering is being conducted on a firm commitment
basis. Bancroft Capital, LLC is acting as the lead underwriter, with Eddid Securities USA Inc. acting as a co-underwriter for the Offering.
Bevilacqua PLLC is acting as U.S. securities counsel to the Company, and Ortoli Rosenstadt LLP is acting as U.S. securities counsel to
the lead underwriter in connection with the Offering.
A registration statement on Form F-1 (File No.
333-282876) relating to the Offering, as amended, has been filed with the U.S. Securities and Exchange Commission (the "SEC")
and was declared effective by the SEC on December 20, 2024. The Offering is being made only by means of a prospectus, copies of which
may be obtained, when available, from: Bancroft Capital, LLC, by standard mail to 501 Office Center Drive, Suite 130, Fort Washington,
PA 19034, by email at InvestmentBanking@bancroft4vets.com, or by telephone at (+1) 484-546-8000; or Eddid Securities USA Inc., by standard
mail to 40 Wall Street, Suite 1606, New York, NY 10005, by email at ecm@eddidusa.com, or by telephone at (+1) 212-363-6888. Copies of
the registration statement can be accessed via the SEC's website at www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
About Hong Kong Pharma Digital Technology Holdings
Hong Kong Pharma Digital Technology Holdings Limited
offers two main categories of services: (i) OTC pharmaceutical cross-border e-commerce supply chain services through its Hong Kong subsidiary,
Joint Cross Border Logistics Company Limited ("Joint Cross Border"), and (ii) OTC pharmaceutical cross-border procurement
and distribution through its Hong Kong subsidiary, V-Alliance Technology Supplies Limited.
Through its engagement with OTC pharmaceutical
suppliers, logistics companies, and merchants on Chinese e-commerce platforms, Joint Cross Border provides a convenient one-stop solution
for Mainland Chinese customers seeking access to OTC pharmaceutical products outside Mainland China.
Joint Cross Border's comprehensive service
offerings include pre-consultation, product information review, procuring overseas OTC pharmaceutical products, enlisting products with
the Hong Kong Department of Health, obtaining import and export permits, storing products, packaging, and arranging logistics and end-to-end
delivery services for customers. For more information, please visit the Company's website: www.9zt.hk.
Forward-Looking Statements
All forward-looking statements, expressed or implied,
in this release are based only on information currently available to us and speak only as of the date on which they are made. Investors
can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes,"
"expects," "anticipates," "estimates," "projects," "intends," "plans," "will,"
"would," "should," "could," "may" or other similar expressions in this release. Except as otherwise
required by applicable law, we disclaim any duty to publicly update any forward-looking statement to reflect events or circumstances after
the date of this press release. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties
related to market conditions, and other factors discussed in the "Risk Factors" section of the registration statement for the
Offering filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable,
it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's
registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are
available for review at www.sec.gov.
For more information, please contact:
Hong Kong Pharma Digital Technology Holdings Limited
Media Contact: pr@9zt.hk
Investor Relations: ir@9zt.hk
B1, 5/F., Well Town Industrial Building, 13 Ko Fai Road, Yau Tong, Kowloon, Hong Kong
Telephone: +852 2618-9289