ATIF Provided OTC Listing Advisory Services to Addentax in 2016
Irvine, California, Sep 2, 2022 -- ATIF Holdings Limited (Nasdaq: ATIF) (the “Company,” or “We”) is pleased to announce that its client, Addentax Group Corp. (Nasdaq: ATXG, “Addentax”), whose common stocks was traded on OTC Markets, has been approved to list on Nasdaq Capital Market and made a strong debut on on August 31, 2022.
Addentax is an integrated service provider focusing on garment manufacturing, logistics service, property management and subleasing, and epidemic prevention supplies. It announced the pricing of an underwritten public offering (the "Offering") of 5,000,000 shares of its common stock at a price to the public of $5.00 per share, for total gross proceeds of approximately $25 million, before deducting underwriting discounts and other related expenses.
On the first day of trading, Addentax opened at $27.00 and closed the day at $656.54, a 13,031% jump from the offering price $5.00 with a market cap of $20.8 billion.
Jun Liu, President, Chairman of the Board, and CEO of ATIF, commented, “ We are excited to hear the news and we congratulate Addentax on its successful uplist to Nasdaq! It takes professionalism and patience to nurture a company. We served as a advisor to Addentax on its OTC listing in 2016 and today it finally made its debut on Nasdaq! Moreover, Addentax shows its strong performance on its first day of trading, and its market capitalization has soared 13,031% on its closing day. I sincerely hope that with the boost of the market, Addentax will make further achievements and continue its good performance!”