Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 161

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 161
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share. The net proceeds of the Company’s IPO, including the proceeds from the sale of the over-allotment shares, totaled approximately
$25.7million, 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. The share numbers and par value are before Share Consolidation
in October 2023.

Issuance of Ordinary Shares

On June 13, 2022, the Company entered into securities
purchase agreements with six investors (“ Investors”), pursuant to which the Company agreed to sell to the Investors in private
placements of5,230,000ordinary shares of the Company at a purchase price of $1.20per share for an aggregate offering price of $6,276,000.

On October 11, 2022, the Company entered into
a securities purchase agreement with five purchasers, who are the product distributors and business partners of the Company in China.
Pursuant to the agreement, the Company sold to them in a registered direct offering, an aggregate of2,576,600ordinary shares of the
Company at a purchase price of $1.40per share, for aggregate proceeds to the Company of $3,607,240. The shares were offered and sold
by the Company pursuant to an effective shelf registration statement on Form F-3, which declared effective on August 31, 2022 (File No.
333-264109).

Underwriters Warrants

In connection with the March 19, 2021 offering,
the Company agreed to grant to the Underwriters Warrants (“ UW Warrants”) covering a number of Ordinary Shares equal to10%
of the aggregate number of the Ordinary Shares sold in the offering including any shares sold upon exercise of the over-allotment option,
totaling427,143warrants. The warrants carry a term of5years and the exercise price is $9.10. The UW Warrants were not exercisable
for a period of 180 days after the effective date of the offering. On November 25, 2021, the warrants holders provided the Company with
the notice of exercise and elected the cashless exercise of the UW Warrants, which resulted in an aggregate of137,111Ordinary Shares
issued based on the5days average market price of $13.402per share. As of December 31, 2023 and 2022, no warrants were