Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 66

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4A
Chunk 66
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 additional 557,143 ordinary shares at a price of $7.00 per
share. The net proceeds of the Company’s IPO, including the proceeds from the sale of the over-allotment shares, totaled approximately
$25.7 million, after deducting underwriting discounts and other related expenses. The Ordinary Shares have been listed on the Nasdaq Capital
Market and trading under the ticker symbol “ JWEL” since March 17, 2021. In connection with the IPO, the Company issued to
the underwriter and its affiliates warrants to purchase ordinary shares of the Company that equals to 10% of the aggregate number of ordinary
shares sold by the underwriter in the IPO (the “ Warrants”). In November 2021, the warrants holders have cashless exercised
the Warrants for an aggregate of 137,111 ordinary shares of the Company. As of the date of this report, there was no warrants outstanding.
The share numbers and par value in this paragraph are before Share Consolidation in October 2023.

On July 27, 2021, Shanghai Juhao entered into
a Capital Increase Agreement (the “ Agreement”) with Suzhou Industrial Park Hongrun Rural Small Amount Loan Co., Ltd. (“ Hongrun”)
and its shareholders identified on the signature pages thereto (the “ Existing Shareholders”). Mr. Zhiwei Xu, then Chairman
of the Board of Directors and Chief Executive Officer of the Company is also the Chairman of the Board of Directors of Hongrun. Jiangsu
Longrich Group Co., Ltd., the largest shareholder of Hongrun is also a related party of the Company. Pursuant to the Agreement, Shanghai
Juhao contributed RMB 30 million (approximately $4.6 million) to Hongrun (the “ Investment”) for 18.96% equity interest of
Hongrun. Hongrun and Existing Shareholders agree the Investment will only be used for making loans to the owners of
Juhao Best Choice Stores for their business development and expansion. Juhao Best Choice Stores are the
community group-buying franchise stores launched by Shanghai Juhao in April 2021.

On April 13, 2023, Shanghai Jowell established
a new wholly owned subsidiary Shanghai Lianfu Information Technology Co., Ltd. which will develop on marketing and sales of agricultural
and fishing products on Tencent Short Video and other social media platforms.

On September 5, 2024, Shanghai Jowell incorporated
Baotou Juha