By Stephen Nakrosis
Hong Kong-based Regencell Bioscience Holdings Ltd. said Friday it planned to offer 2.3 million ordinary shares in its initial public offering, and expects the IPO to price at between $8.50 and $10.50 a share.
Regencell said it focuses on the research, development and commercialization of traditional Chinese medicine to treat "neurocognitive disorders and degeneration, specifically Attention Deficit Hyperactivity Disorder and Autism Spectrum Disorder."
The company said its business is conducted in Hong Kong through a subsidiary. Regencell also said it opened a California office last year but is currently not actively developing the U.S. market. It said it will "conduct preliminary market research once our TCM products obtain regulatory approvals and achieve success in Hong Kong."
The company said it applied to list on the Nasdaq Capital Market under the symbol RGC.
Maxim Group LLC is listed as the offering's sole book-running manager.
Write to Stephen Nakrosis at [email protected]