Hangzhou, China, August 23, 2024 – WORK Medical Technology Group LTD (“WORK Medical”), a leading medical device supplier in China, announced the pricing of its initial public offering (“IPO”). The IPO will consist of 2,000,000 ordinary shares offered at US$4.00 per share. These shares are slated for listing on the Nasdaq Capital Market and are expected to begin trading on August 23, 2024, under the ticker symbol “WOK.”

WORK Medical anticipates receiving total gross proceeds of US$8.00 million from the IPO, before deducting underwriting discounts and related expenses. The underwriters also have a 45-day option to purchase an additional 300,000 ordinary shares at the IPO price, excluding underwriting discounts. The IPO is projected to close on or around August 26, 2024, contingent upon customary closing conditions being met.

The proceeds from the IPO will be allocated towards (i) upgrading production equipment and expanding production capacity, (ii) developing masks, other medical consumables, and medical devices, (iii) product marketing, (iv) patent acquisitions, (v) working capital, and other general corporate purposes.

The IPO is structured on a “firm commitment” basis. Kingswood Capital Partners, LLC (“Kingswood”) serves as the sole book running manager for the IPO. Hunter Taubman Fischer & Li LLC acts as U.S. counsel for WORK Medical, while Ortoli Rosenstadt LLP acts as U.S. counsel for Kingswood in relation to the IPO.

A registration statement on Form F-1 related to the IPO has been submitted to the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-271474) and was declared effective by the SEC on August 22, 2024. The IPO is exclusively offered through a prospectus, forming part of the registration statement pertaining to the IPO. Copies of the prospectus relating to the IPO can be acquired from Kingswood at: 7280 W Palmetto Park Rd. Suite 301, Boca Raton, FL 33433, by email at , or by phone at +1-800-535-6981. Alternatively, a copy of the prospectus can be obtained through the SEC’s website at .

Prior to investing, you should review the prospectus and other documents filed or to be filed by WORK Medical with the SEC to obtain comprehensive information about WORK Medical and the IPO. This press release does not constitute an offer to sell, or a solicitation to purchase, any of WORK Medical’s securities. No offer, solicitation, or sale of any of WORK Medical’s securities is permissible in any state or jurisdiction where such activity would be unlawful before 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 provider of medical devices that develops and manufactures Class I and II medical devices. The company sells Class I and II disposable medical devices through its operational subsidiaries in China. WORK Medical boasts a diverse product portfolio comprising 21 products, including customized and multifunctional masks and other medical consumables. These products have been distributed across 34 provincial-level administrative regions in China, with 15 of them finding markets in over 30 countries worldwide. WORK Medical has received numerous quality-related manufacturing designations and has registered 17 products with the U.S. Food and Drug Administration, allowing its products to enter the U.S. market. For further information, please visit WORK Medical’s website: .

Forward-Looking Statements

This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by terms 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 intended to identify forward-looking statements. Any statements in this press release that are not statements of historical fact can be considered forward-looking statements. These forward-looking statements encompass, but are not limited to, statements regarding the completion, timing, and anticipated size of the IPO and the expected commencement of trading on Nasdaq.

Any forward-looking statements in this press release are based on WORK Medical’s current expectations, estimates, and projections solely as of the date of this release and are subject to a variety of risks and uncertainties that could lead to actual results differing materially and adversely from those presented or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the completion of the proposed IPO on the anticipated terms, or at all, market conditions, and the fulfillment of customary closing conditions related to the IPO. While WORK Medical believes that the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee that such expectations will materialize. WORK Medical cautions investors that actual results may vary significantly from the anticipated results and encourages investors to examine other factors that might impact its future results, as outlined in WORK Medical’s registration statement on Form F-1 and other documents filed by WORK Medical with the SEC. WORK Medical explicitly disclaims any obligation to update any forward-looking statements except to the extent 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: