NGS, the global nutrition company that produces clinically proven nutritional supplements based on scientific formulation, reported the successful completion of a stock issue in which it raised $ 5 million (before costs) at 21.5 cents a share.
The proceeds of the offering will be used by the company to accelerate the penetration of the Healthy Heights® brand in the markets of China and the US, to invest in inventory and to expand sales and finance clinical trials of new products in development.
Liron Pendel, CEO of Nutritional Growth Solutions, said: “We are very pleased with the strong support we have received in the IPO from existing shareholders, as well as from new institutional investors and sophisticated investors. It is an expression of confidence in NGS’s vision to implement our three.tier growth strategy. “
“We are stepping up our focus on the US and China markets because they offer the highest potential for Healthy Heights® and will immediately approach brand capital building in each region to increase awareness and encourage demand for our patented, clinically proven growth products in young people.“