Qilian International Holding Group Ltd (QLI) Quote

Another pump n dump

Front loaded p&d

Woof

$5.20 nice

Saw this $19 premkt and figured I wait.

Got in at 12.22.

That low float got me.

Looking good here

Quite the ride on this low float! Priced @ $5 - Opened @ $8 - High of $22 all in 1 day

$QLI ipo today https://www.streetinsider.com/Corporate+News/Qilian+International+Holding+Group+Ltd+%28QLI%29+Prices+5M+Share+IPO+at+%245Sh/17810169.html


Qilian International Holding Group Ltd (QLI) Prices 5M Share IPO at $5/Sh

Qilian International Holding Group Limited (NASDAQ: QLI), a China-based pharmaceutical and chemical products manufacturer, today announced the pricing of its initial public offering ("Offering") of 5,000,000 ordinary shares at a public offering price of US$5.00 per share. The ordinary shares have been approved for listing on the Nasdaq Global Market and are expected to commence trading on January 12, 2021 under the ticker symbol “QLI”.

The Company expects to receive aggregate gross proceeds of US$25 million from this Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 750,000 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about January 14, 2021, subject to the satisfaction of customary closing conditions.

Proceeds from the Offering will be used for fixed asset investment in Oxytetracycline API production facilities, construction of an organic-waste treatment facility, fixed asset investment in Heparin Sodium Preparation facilities, and marketing expenses for Gan Di Xin ®.

The Offering is being conducted on a firm commitment basis. Univest Securities, LLC is acting as the representative of the underwriters and lead book-running manager for the Offering. Loop Capital Markets and Alexander Capital L.P. are acting as co-managers for the Offering. Hunter Taubman Fischer & Li LLC acted as counsel to the Company, and Ortoli Rosenstadt LLP acted as counsel to Univest Securities, LLC in connection with the Offering.