Zhongchao, a Chinese internet platform providing medical information, education, and training, announced terms for its US IPO on Thursday.
The Shanghai, China-based company plans to raise $15 million by offering 3.5 million shares at a price range of $4.00 to $4.50. At the midpoint of the proposed range, Zhongchao would command a market value of $107 million.
Zhongchao was founded in 2012 and booked $15 million in sales for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol ZCMD. Network 1 Financial Securities is the sole bookrunner on the deal.
