New York, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Univest Securities, LLC, a FINRA and SIPC member full-service investment bank and securities broker-dealer firm, today announced the closing of previously announced the initial public offering (“IPO”) for its client Happiness Biotech Group Limited (“Happiness” or Nasdaq: HAPP), marking the second Nasdaq IPO underwritten as the lead-left underwriter and the sole book-runner by Uinvest in 2019. On a firm commitment basis, Univest sold, on behalf of Happiness, 2,000,000 shares of its ordinary shares at of $5.50 per share for a total of $11,000,000 in gross proceeds before fees and expenses. Happiness’s ordinary shares began trading on the Nasdaq Capital Market (“Nasdaq”) on Friday, October 25th, 2019 under the trading symbol “HAPP”.

New York, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Univest Securities, LLC, a FINRA and SIPC member full-service investment bank and securities broker-dealer firm, today announced the closing of previously announced the initial public offering (“IPO”) for its client Happiness Biotech Group Limited (“Happiness” or Nasdaq: HAPP), marking the second Nasdaq IPO underwritten as the lead-left underwriter and the sole book-runner by Uinvest in 2019. On a firm commitment basis, Univest sold, on behalf of Happiness, 2,000,000 shares of its ordinary shares at of $5.50 per share for a total of $11,000,000 in gross proceeds before fees and expenses. Happiness’s ordinary shares began trading on the Nasdaq Capital Market (“Nasdaq”) on Friday, October 25th, 2019 under the trading symbol “HAPP”.

New York, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Univest Securities, LLC, a FINRA and SIPC member full-service investment bank and securities broker-dealer firm, today announced the closing of previously announced the initial public offering (“IPO”) for its client Happiness Biotech Group Limited

Happiness Biotech Group, a China-based provider of dietary supplements used in traditional Chinese medicine, raised $11 million by offering 2.0 million shares at $5.50, as filed. At the offer price, the company commands a market value of $138 million (LTM P/E of 7.9x).