SHENZHEN, China, Oct. 21, 2020 /PRNewswire/ -- MingZhu Logistics
Holdings Limited ("MingZhu" or the "Company") (NASDAQ: YGMZ), a
China-based trucking services
provider, today announced the pricing of its firm commitment
initial public offering of 3,000,000 ordinary shares at a public
offering price of $4.00 per share, for total gross
proceeds of US$12 million, before
deducting underwriting discounts, commissions and other related
expenses. In addition, MingZhu has granted the underwriters a
45-day option to purchase up to an additional 450,000 ordinary
shares at the public offering price, less underwriting discount and
commissions. The shares are scheduled to begin trading on the
NASDAQ Capital Market on October 21,
2020 under the ticker symbol "YGMZ". The offering is
expected to close on or about October 23, 2020, subject
to customary closing conditions.
Half of the proceeds from this offering will be used for
acquiring new revenue equipment through capital leases, including
tractors and trailers. The remainder of the proceeds will be
used for: (i) operational improvement, including a new information
system for fleet management and additional management personnel for
expanded operation; (ii) strategic acquisitions and
alliances; and (iii) working capital and general corporate
purposes.
ViewTrade Securities, Inc., a global provider of brokerage,
investment banking, corporate /advisory and trading platform
services, acted as sole book-running manager for the offering.
A registration statement relating to the securities being sold
in this offering was declared effective by the Securities and
Exchange Commission (SEC) on September 30, 2020. The offering
of these securities will be made only by means of a prospectus,
forming a part of the registration statement. A copy of the final
prospectus related to the offering may be obtained, when available,
from ViewTrade Securities, via email: IB@Viewtrade.com or
standard mail at ViewTrade Securities, 7280 W Palmetto Park Rd,
#310, Boca Raton, FL 33433, Attn: Prospectus Department.
In addition, a copy of the final prospectus relating to the
offering may be obtained 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 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 MingZhu Logistics Holdings Limited
Founded in 2002 and Headquartered in Shenzhen, China, MingZhu is 3A-grade trucking
services provider, offering both network density and broad
geographic coverage to meet customers' diverse transportation
needs. The Company operates two regional terminals in Guangdong Province and Xinjiang Autonomous
Region, respectively, with a mix of self-own fleets of tractors and
trailers and subcontractors' fleets. More information about MingZhu
can be found at: www.szygmz.com/en/
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may, "will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Specifically, the Company's statements regarding
trading on the NASDAQ Capital Market are forward-looking
statements. Forward-looking statements are not guarantees of
future performance and involve risks and uncertainties that may
cause the actual results to differ materially from the Company's
expectations discussed in the forward-looking statements. These
statements are subject to uncertainties and risks including, but
not limited to, the following: the Company's goals and
strategies; the Company's future business development; product and
service demand and acceptance; changes in technology; economic
conditions; the growth of the trucking services market in
China and the other international
markets the Company plans to serve; reputation and brand; the
impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China and the international
markets the Company plans to serve and assumptions underlying or
related to any of the foregoing and other risks contained in
reports filed by the Company with the SEC. For these reasons,
among others, investors are cautioned not to place undue reliance
upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
SEC, which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward–looking
statements to reflect events or circumstances that arise after the
date hereof.
For more information, please contact:
At the Company:
Dennis Tan
Email: company@szygmz.com
Phone: (+86) 150-1854-1833
Investor Relations:
Tony
Tian, CFA
Weitian Group LLC
Email: ttian@weitianco.com
Phone: (+1) 732-910-9692
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SOURCE MingZhu Logistics Holdings Limited