YanGuFang International Group, a Chinese producer of oat and grain products, raised $8 million by offering 2 million shares at $4, the low end of the range of $4 to $6. The company offered 0.5 million fewer shares than anticipated. It originally planned to offer 5 million shares at a range of $5 to $7, before revising the terms in January and March.
The company primarily engages in the production, research and development, and sales of oat and grain products through its direct salesforce and distribution network throughout various regions in China. Its product portfolio includes oatmeal, oat flour, oat bran, and oat nutrient and health series products (oat peptide series, dietary fiber powder, and oat toothpaste), among others. YanGuFang has operations in Beijing, Shanghai, Jiangsu, Zhejiang, Fujian, Guangdong, Inner Mongolia, Anhui, and Chongqing, and expanded international sales to the US in October 2022.
YanGuFang International Group plans to list on the Nasdaq under the symbol YGF. EF Hutton acted as sole bookrunner on the deal.
