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Chinese oat products maker YanGuFang (NASDAQ:YGF) raised $8M through a downsized US initial public offering on Tuesday.
YanGuFang priced 2M shares at $4 per share. Underwriters were granted an option to buy up to 300K additional shares at the public price to cover over-allotments. EF Hutton is serving as sole bookrunner.
In January, YanGuFang cut the size of its IPO by 37% to $19M. The company originally filed in September to raise around $30M.
YanGuFang is a producer and marketer of oat and grain-based food and health products. The company primarily sells its products in China, but is looking to expand into the US and other markets.
More on YanGuFang:
Chinese Oat Products Maker YanGuFang Downsizes US IPO to $13M
Chinese Oat Products Maker YanGuFang Downsizes US IPO by 37%
