WORK Medical Technology Group Secures $5 Million in Registered Offering
Hangzhou, China, May 22, 2025 – WORK Medical Technology Group LTD (Nasdaq: WOK), a leading supplier of medical devices in China, announced the successful closure of a registered offering, raising $5 million. The offering comprised 10 million Ordinary Units priced at $0.50 each, with each unit consisting of one Class A ordinary share and two types of warrants—Series A and Series B—allowing for future purchases of Class A shares at $1.00.
The Company plans to utilize the proceeds to upgrade production equipment and bolster research and development at its Chinese subsidiaries. Additionally, funds will be allocated towards hiring skilled employees to enhance internal controls and compliance with U.S. GAAP and the Sarbanes-Oxley Act. The structured offering was managed by Univest Securities, LLC, which served as the sole book-running manager.
The securities were issued under a registration statement previously filed with the U.S. Securities and Exchange Commission (SEC). The Company has an extensive product range, including 21 medical devices and consumables that have reached international markets, with 15 products authorized for sale in over 30 countries. WORK Medical has also secured FDA registrations for 17 of its products, expanding its presence in the U.S. market.
This announcement underscores WORK Medical’s commitment to advancing its technological capabilities and compliance standards. Investors and stakeholders are reminded that this release may contain forward-looking statements subject to risks and uncertainties which could affect results.
For additional information, please visit WORK Medical’s website or contact the Investor Relations Department at ir@workmedtech.com.
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