China Jo-Jo Drugstores Announces $1.53 Million Registered Direct Offering

HANGZHOU, China, April 29, 2024 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (Nasdaq: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that it has entered into definitive agreements with a number of investors providing for the issuance of 0.9 million ordinary shares, at a purchase price of $1.70 per share, in a registered direct offering for aggregate gross proceeds of approximately $1.53 million. The closing of the sale of the securities is expected to occur on or about April 30, 2024, subject to satisfaction of customary closing conditions.

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