China-focused wellness merchandise marketer Aixin Life Worldwide (OTCQX:AIXN) plans to uplist its shares to Nasdaq and conduct a $50M public providing.
Aixin, which is headquartered in Colorado, did not specify in its submitting the quantity and value of the shares to be supplied, however mentioned that it aiming to boost round $50M. Community 1 Monetary is serving as lead bookrunner.
The corporate’s shares are at present traded OTC underneath the image AIXN. It hopes to listing them on Nasdaq underneath the identical image.
The corporate conducts enterprise by working corporations in China and an middleman firm based mostly within the British Virgin Islands. For 2021, Aixin reported a internet lack of $267K on income of $3M.
Aixin is a developer, maker and marketer of dietary and wellness merchandise for the Chinese language market, together with conventional Chinese language treatments, probiotics and weight administration merchandise. The corporate additionally supplies promoting and advertising providers to different corporations.
As a part of its advertising technique, Aixin bought a pharmacy chain in China in June 2021. The corporate at present operates 13 pharmacies, with plans to increase. It additionally owns a 108-room resort in Chengdu, China.