Zhongchao Prices $5 Mln Public Offering Of Shares And Warrants; Stock Down

(RTTNews) - Zhongchao Inc. (ZCMD), a healthcare information and service provider, priced its best-efforts public offering of 9.26 million units, each consisting of one Class A ordinary Share (or a pre-funded warrant in lieu thereof) and one warrant to purchase one Class A ordinary share at a combined price of $0.54 per Unit. The gross proceeds from the offering are expected to be approximately $5 million.

The pre-funded warrants of each shall have a purchase price equal to the public offering price per unit minus $0.008, shall be exercisable immediately upon issuance, and shall expire upon full exercise.

Each accompanying warrant has an exercise price of $0.594 per Class A ordinary share and expires on the six-month anniversary of issuance.

The offering is expected to close on or about June 1, 2026, subject to customary closing conditions.

In addition, purchasers may elect to buy additional units in one or more closings within 30 days after the initial closing, with each purchaser eligible to acquire up to the number of units originally purchased at the same offering price.

Univest Securities, LLC is acting as the sole placement agent for the offering. ZCMD has traded between $0.08 and $12.18 over the last year. The stock closed Friday's trade at $0.17.

ZCMD is currently trading 42.28% down, at $0.09.

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