Fuling Global Inc. Announces Partial Exercise of Underwriters' Over-Subscription Option in Initial Public Offering
ALLENTOWN, Pennsylvania and TAIZHOU, China, Nov. 12, 2015 /PRNewswire/ -- Fuling Global Inc. (NASDAQ: FORK) ("Fuling Global" or the "Company"), a specialized producer and distributor of environmentally-friendly plastic serviceware, with precision manufacturing facilities in both the U.S. and China, today announced that the underwriters of its previously announced initial public offering (the "IPO") of ordinary stock have exercised their over-subscription option to purchase an additional 38,423 shares at the IPO price of $5.00 per share. As a result, the Company has raised $20,192,115.00 in gross proceeds through the issuance of a total of 4,038,423 ordinary shares in the IPO, with all shares being offered by the Company.
Lead underwriter and book-running manager Burnham Securities Inc. and co-underwriter and co-manager Network 1 Financial Securities, Inc. conducted the offering on a "best efforts" basis.
A registration statement relating to the IPO shares was filed with the Securities and Exchange Commission and was declared effective on October 26, 2015. The offering was made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from the offices of Burnham Securities Inc. by email to email@example.com, by fax to +1 (949) 390-9579, or by mail to 18500 Von Karman Avenue, Suite 560, Irvine, California 92612 USA, Attention: Investment Banking.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any state or jurisdiction.
About Fuling Global Inc.
Fuling Global Inc. ("Fuling" or the "Company") is a specialized producer and distributor of environmentally-friendly plastic serviceware, with precision manufacturing facilities in both the U.S. and China. The Company's plastic serviceware products include disposable cutlery, drinking straws, cups, plates and other plastics products and are used by more than one hundred customers primarily from the U.S. and Europe, including Subway, Wendy's, Burger King, KFC (China only), Walmart, McKesson, and Woolworths. More information about the Company can be found at: http://ir.fulingglobal.com/.
This press release contains information about Fuling's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of software and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Fuling encourages you to review other factors that may affect its future results in Fuling's registration statement and in its other filings with the Securities and Exchange Commission.
For more information, please contact:
Weitian Group LLC
Burnham Securities Inc.:
Dan McClory, Managing Director
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SOURCE Fuling Global Inc.