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BAODING, China - IT Tech Packaging Inc. (NYSE American: ITP), a prominent North China paper product manufacturer, has announced the pricing of its public stock offering. Set at $0.20 per share, the company is offering 6,899,500 shares, with expectations to raise about $1.4 million in gross proceeds. According to InvestingPro data, the stock has shown significant momentum with a 43% return over the past six months, despite trading near its 52-week low of $0.20. The offering, managed exclusively by Maxim Group LLC, is anticipated to close on May 14, 2025, pending customary closing conditions.
The proceeds from the offering are earmarked for working capital and other general corporate purposes. IT Tech Packaging, which has been trading on the NYSE American since December 2009, specializes in producing a variety of paper products, including corrugating medium paper, offset printing paper, and tissue paper products, primarily using recycled paper. InvestingPro analysis shows the company currently trades at attractive valuation multiples, with revenue reaching nearly $80 million in the last twelve months. Subscribers can access 12 additional ProTips and comprehensive financial metrics at InvestingPro.
The offering is part of a shelf registration statement filed with the Securities and Exchange Commission (SEC) on April 3, 2023, which was declared effective on April 14, 2023. The offering is conducted through a written prospectus and prospectus supplement that form part of the registration statement. With a current ratio of 1.41 and an Altman Z-Score of 11.84, InvestingPro data indicates the company maintains stable financial health metrics. The SEC’s website currently hosts the preliminary prospectus supplement and accompanying prospectus, with a final version to be filed in due course.
IT Tech Packaging cautions that this press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction where such an offer, solicitation, or sale would be illegal before registration or qualification under the securities laws of such jurisdiction.
This news is based on a press release statement and contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from projections. The company’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, provide additional information on these risks and uncertainties.
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