#China #Public Offering #NYSE American #IT Tech Packaging #Baoding

IT Tech Packaging's Public Offering Announcement

On May 13, 2025, IT Tech Packaging Inc., a notable manufacturer and distributor of diversified paper products based in North China, reported the pricing of its upcoming public offering. The offering involves the sale of 6,899,500 shares of common stock, priced at $0.20 per share, intending to generate gross proceeds of approximately $1.4 million before the deduction of fees and expenses.

Details of the Offering

This strategic move by IT Tech Packaging is designed to provide the company with necessary funding for working capital as well as other corporate purposes. The public offering is projected to close on May 14, 2025, contingent upon the satisfaction of customary closing conditions. Maxim Group LLC has been appointed as the sole placement agent responsible for the offering.

The initiative is anchored by a previously filed shelf registration statement with the Securities and Exchange Commission (SEC) on April 3, 2023, which garnered official approval by April 14, 2023. All necessary documentation, including a prospectus and supplementary materials, have been filed with the SEC and can be accessed through their official website.

Use of Proceeds

IT Tech Packaging plans to utilize the net proceeds from this public offering primarily for working capital needs and supplementary business operations. Such funding is crucial for the company to maintain its competitive edge in the diversified paper products market. Established in 1996, the company has since evolved into a leading entity in this sector, focusing on manufacturing products that include corrugating medium paper and offset printing paper, using recycled materials where possible.

Background of IT Tech Packaging

Headquartered in Baoding, Hebei Province, ITP's location is strategically placed within proximity to Beijing and Tianjin, areas known for their thriving industrial and manufacturing sectors. This advantageous positioning is pivotal for both procurement of raw materials and distribution of finished goods, catering to one of the largest markets for paper products in China. Since its listing on the NYSE American in December 2009, the company has strived to align its operations with sustainable practices simultaneously addressing market demands.

Final Thoughts

The proposed public offering reflects IT Tech Packaging's efforts to enhance its operational capabilities and cater to the increasing demand within its market. By seeking to raise capital through this strategic offering, ITP is poised to reinforce its market position and ensure sustainable growth moving forward. While the company remains optimistic about the future, stakeholders and potential investors are advised to consider the forward-looking statements and inherent market risks that could potentially impact stock performance. Further updates and details will be disclosed as the transaction proceeds.

For any inquiries or further information regarding the offering, interested parties can contact Maxim Group LLC at their New York office.

Disclaimer

This announcement is not intended as an offer to sell or solicit purchases of securities, and sales may only occur in jurisdictions where such actions are lawful. The company disclaims any obligation to update forward-looking statements disclosed in the future, as outlined in its periodic SEC filings.