• Boustead Securities

Nasdaq Alert: Client Jiuzi Holdings, Inc. Announces Pricing of Upsized Initial Public Offering


Boustead Securities client, Jiuzi Holdings, Inc. (the "Company"), a new energy vehicles franchisor and retailer under the brand name "Jiuzi" in China, today announced the pricing of its upsized initial public offering ("Offering") of 5,200,000 ordinary shares at a public offering price of US$5.00 per share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and commenced trading on May 18, 2021 under the ticker symbol "JZXN".

The Company expects to receive aggregate gross proceeds of US$26 million from this Offering, before deducting underwriting discounts and other related expenses. The Offering is expected to close on or about May 20, 2021, subject to the satisfaction of customary closing conditions.

The Offering is being conducted on a firm commitment basis. Boustead Securities, LLC is acting as the sole underwriter for the Offering. Ortoli Rosenstadt LLP is acting as counsel to the Company, and Sichenzia Ross Ference LLP is acting as counsel to Boustead Securities, LLC.

A registration statement on Form F-1 relating to the Offering was filed with the Securities and Exchange Commission ("SEC") (File Number: 333-248416) and was declared effective by the SEC on May 17, 2021, and a registration statement filed pursuant to Rule 462(b) (File No. 333-256223) became effective upon filing with the SEC. The Offering is being made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering will be filed with the SEC and may be obtained from Boustead Securities, by email at offerings@boustead1828.com, by calling +1 (949) 502-4408 or standard mail to Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's 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 such state or jurisdiction.


About Jiuzi Holdings, Inc. Jiuzi Holdings, Inc., headquartered in Hangzhou, China, and established in 2017, franchises and operates retail stores under the brand name "Jiuzi" to sell New Energy Vehicles ("NEVs") in third-fourth tier cities in China. The Company majorly sells battery-operated electric vehicles, and sources NEVs through more than twenty NEV manufacturers. It has 31 operating franchise stores and one company-owned store. For more information, visit the Company's website at http://www.zjjzxny.cn/.

About Boustead Securities, LLC

Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit please visit: www.boustead1828.com

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Forward-Looking Statements

This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur.

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