HCWC Goes Public on NYSE American

By Tamara Parker • Thursday, September 19 08:06 • Permanent Link

Healthy Choice Wellness Corp. ("HCWC") has made significant strides as it announces its listing on the NYSE American, pricing of its initial public offering, and the completion of its spin-off from Healthier Choices Management Corp. The company priced its initial public offering of 400,000 shares of Class A common stock at $10.00 per share, generating approximately $4.0 million in gross proceeds.

HCWC's spin-off from Healthier Choices Management Corp. was completed, with shareholders of the latter receiving one share of HCWC's Class A common stock and three shares of its Class B common stock for every 208,632 shares of Healthier Choices Management Corp. owned as of September 9, 2024.

The company's Class A common stock is set to commence trading on the NYSE American under the symbol "HCWC" on September 16, 2024. The offering is expected to close on September 17, 2024, subject to customary closing conditions. HCWC has granted the underwriters a 45-day option to purchase up to an additional 60,000 shares of Class A common stock to cover over-allotments at the initial public offering price.

Maxim Group LLC is serving as the sole book-running manager for the offering, and HCWC intends to use the net proceeds for general corporate purposes, including potential strategic acquisitions and funding for working capital needs.

HCWC, as a holding company, is committed to providing consumers with healthier daily choices regarding nutrition and lifestyle alternatives. Through its subsidiaries, the company operates several natural and organic grocery stores, health food and vitamin stores, as well as wellness centers and online retail platforms, catering to the growing demand for healthier lifestyle options.

The completion of its spin-off and successful pricing of the initial public offering mark significant milestones for HCWC, positioning the company for growth and expansion in the health and wellness industry. The market has reacted to these announcements by moving the company's shares -15.9% to a price of $3.5. If you want to know more, read the company's complete 8-K report here.

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