HANGZHOU, China, April 18, 2023 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (Nasdaq:CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that it has entered into a definitive agreement with an institutional investor (the "Investor") providing for the issuance of 2,258,888 ordinary shares, at a purchase price of $3.10 per share, in a registered direct offering for aggregate gross proceeds of approximately $7 million. Jo-Jo Drugstores also agreed to issue to the Investor registered warrants to purchase up to 4,517,776 ordinary shares. The warrants will have a term of five years, be exercisable immediately at an exercise price of $3.10 per share. The closing of the sale of the securities is expected to occur on or about April 20, 2023, subject to satisfaction of customary closing conditions.
Read more at prnewswire.comChina Jo-Jo Drugstores Announces $7 Million Registered Direct Offering
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