BEIJING, China, July 28, 2017 /PRNewswire/ -- China Internet Nationwide Financial Services Inc. ("CIFS" or the "Company") (NASDAQ: CIFS), a provider of financial advisory services to the underserved small-to- medium sized enterprises (“SMEs”) in China, today announced the pricing and closing of its initial public offering (“IPO") of 2,023,146 of its ordinary shares at a price to the public of $10.00 per share for a total of USD$20,231,460 before offering expenses. The shares are expected to begin trading on NASDAQ Global Market on August 8, 2017 under the symbol “CIFS.”
Boustead Securities, LLC acted as Lead Underwriter for the offering. Network 1 Financial Securities, Inc. participated as a Selected Dealer. “Congratulations to Chairman Jianxin Lin and his team at CIFS for successfully completing their IPO and achieving this significant investment designed to grow the Company’s financial services business in assisting SMEs throughout China,” said Dan McClory, Head of China and Equity Capital Markets at Boustead Securities.
Daniel McClory, Head of China & Equity Capital Markets at Boustead Securities, LLC, presented at the China Internet Nationwide Financial Services roadshow event in Beijing.
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A registration statement relating to these securities was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on May 22, 2017. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any state or jurisdiction.
The offering has been made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from Boustead Securities, LLC, via email: firstname.lastname@example.org or by calling +1 (949) 502-4409 or standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 325, Irvine, CA 92618, USA. In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC’s website at www.sec.gov.
Safe Harbor Statement
This press release may contain information about CIFS's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. CIFS encourages you to review other factors that may affect its future results in CIFS's registration statement and in its other filings with the Securities and Exchange Commission.
Boustead Securities Contact:
Dan McClory, Head of Equity Capital Markets and Head of China
For more information, please contact:
CIFS the Company:
Shirley Sun, Chief Financial Officer
Tony Tian, CFA
Weitian Group LLC
Phone: +1-732- 910-9692