Universe Pharmaceuticals INC (Nasdaq: UPC), a Chinese pharmaceutical company, announced a registered direct offering of 18,750,000 ordinary shares, or pre-funded warrants, at $0.80 per share to several investors. Pre-funded warrant purchasers will pay $0.80, less a $0.001 per share exercise price.

The company will also issue warrants to purchase up to an additional 18,750,000 ordinary shares at $0.80 per share, exercisable within five years.

The offering is expected to generate approximately $15 million in gross proceeds and close around December 10, 2024, subject to customary closing conditions. Univest Securities, LLC is the sole placement agent.

This offering uses a previously filed Form F-3 (File No. 333-268028) shelf registration statement, declared effective by the SEC on November 15, 2022. A final prospectus supplement and accompanying prospectus will be available on the SEC website and from Univest Securities, LLC at [phone number redacted] or +1 (212) 343-8888.

This announcement is not an offer to sell or a solicitation of an offer to buy securities in jurisdictions where such actions are illegal before registration or qualification under local securities laws. The prospectus supplement and accompanying base prospectus will be filed with the SEC and are accessible on the SEC website.

About Universe Pharmaceuticals INC

Based in Ji’an, Jiangxi, China, Universe Pharmaceuticals INC produces and distributes pharmaceutical products in China. They focus on traditional Chinese medicine derivatives for the elderly, alongside biomedical drugs, medical instruments, Traditional Chinese Medicine Pieces, and third-party dietary supplements. Their products are currently sold across 30 Chinese provinces.

Forward-Looking Statements

This announcement contains forward-looking statements, subject to risks and uncertainties. These statements reflect current expectations and projections, and use words like “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” and “is/are likely to,” among others. The company is not obligated to update these statements unless required by law. While the company believes these expectations are reasonable, actual results may differ materially. Investors should review the company’s registration statement and SEC filings for additional information.

For more information, please contact:

Ms. Lin Yang

Chief Financial Officer of Universe Pharmaceuticals INC