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FAIRFIELD, NJ, / ACCESSWIRE / September 29, 2021 / Jerash Holdings (US), Inc. (NASDAQ:JRSH) (the "Company" or "Jerash"), which is a premium manufacturer and exporter of custom, ready-made, sportswear and outerwear for leading global brands, today announced the pricing of an underwritten public offering of 1,000,000 shares of its common stock at a public offering price of $7.00 per share. In addition, Merlotte Enterprise Limited, a stockholder of Jerash, is selling 400,000 shares of Jerash's common stock in the offering at the same price. The selling stockholder has also granted the underwriters a 30-day option to purchase up to an additional 210,000 shares of common stock, on the same terms and conditions, to cover over-allotments, if any. The offering is expected to close on October 4, 2021, subject to customary closing conditions.
D.A. Davidson & Co. and Lake Street Capital Markets, LLC are acting as joint book-running managers for this offering. The Company intends to use the net proceeds from the offering to fund future expansion of its production capacity and for working capital and general corporate purposes. Jerash will not receive any proceeds from the sale of shares by the selling stockholder.
A shelf registration statement on Form S-3 (including a base prospectus) and a resale registration statement on Form S-3 relating to these securities have been filed with the Securities and Exchange Commission (the "SEC") and became effective on May 31, 2019 and August 23, 2021, respectively.
A preliminary prospectus supplement describing the terms of the offering has been filed with the SEC and is available by visiting the SEC's website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectuses relating to this offering may be obtained by visiting the SEC's website at www.sec.gov, or by contacting the offices of D.A. Davidson & Co., Attention: Equity Syndicate, 8 Third Street North, Great Falls, MT 59401, (800) 332-5915, prospectusrequest@dadco.com; or Lake Street Capital Markets, LLC, Attention: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, Minnesota 55402, or by calling (612) 326-1305, or by emailing syndicate@lakestreetcm.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.