Hangzhou, China, August 26, 2024 — WORK Medical Technology Group LTD (Nasdaq: WOK) (“Company”), a Chinese medical device supplier, announced the completion of its initial public offering (“Offering”) of 2,000,000 ordinary shares at US$4.00 per share. Trading of these shares commenced on the Nasdaq Capital Market on August 23, 2024, under the ticker symbol “WOK”.

The Offering generated gross proceeds of approximately US$8.00 million before deducting underwriting discounts and related expenses. Additionally, the Company has granted underwriters a 45-day option to purchase up to 300,000 additional ordinary shares at the offering price, less the underwriting discount, to cover potential over-allotments.

The Offering proceeds will be used for (i) upgrading production equipment and increasing production capacity, (ii) developing masks, other medical consumables, and medical devices, (iii) product marketing, (iv) patent acquisitions, and (v) working capital and general corporate purposes.

The Offering was conducted on a “firm commitment” basis. Kingswood Capital Partners, LLC (“Kingswood”) acted as the sole book running manager for the Offering. Hunter Taubman Fischer & Li LLC served as U.S. counsel to the Company, and Ortoli Rosenstadt LLP acted as U.S. counsel to Kingswood in connection with the Offering.

A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-271474) and was declared effective by the SEC on August 22, 2024. The Offering was made solely through a prospectus, forming part of the registration statement relating to the Offering. Copies of the final prospectus for the Offering can be obtained from Kingswood at: 7280 W Palmetto Park Rd. Suite 301, Boca Raton, FL 33433, or by email at , or by telephone at +1-800-535-6981. Additionally, a copy of the prospectus relating to the Offering can be accessed on the SEC’s website at .

This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities. No offer, solicitation, or sale of the Company’s securities will occur in any state or jurisdiction where such activities would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

About WORK Medical Technology Group LTD

WORK Medical Technology Group LTD is a medical device supplier that develops and manufactures Class I and II medical devices and sells Class I and II disposable medical devices through its operating subsidiaries in China. The Company has a diverse product portfolio encompassing 21 products, including customized and multifunctional masks and other medical consumables. These products have been sold in 34 provincial-level administrative regions in China, with 15 of them sold in over 30 countries worldwide. The Company has received several quality-related manufacturing designations and registered 17 products with the U.S. Food and Drug Administration, allowing its products to enter the U.S. market. For more information, please visit the Company’s website: .

Forward-Looking Statements

This press release includes forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will,” and variations of these words or similar expressions that indicate forward-looking statements. Any statements in this press release that are not statements of historical fact can be considered forward-looking statements.

All forward-looking statements in this press release are based on the Company’s current expectations, estimates, and projections as of the date of this release. They are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied in these forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it cannot guarantee that these expectations will be realized. The Company cautions investors that actual results may differ significantly from the anticipated results. Investors are encouraged to review other factors that may affect the Company’s future results as outlined in the Company’s registration statement on Form F-1 and other documents filed by the Company with the SEC. The Company expressly disclaims any obligation to update any forward-looking statements, except as required by law.

For more information, please contact:

WORK Medical Technology Group LTD
Investor Relations Department
Email:

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: