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Hogan Lovells advises on the US IPO of DayDayCook
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| 23
November
2023
Hong Kong, 23 November 2023 - Global law firm Hogan Lovells acted as U.S. securities counsel to the underwriters, CMB International Capital Limited and The Benchmark Company, LLC, in the Initial Public Offering (IPO) of DDC Enterprise Ltd (“DayDayCook”) on the NYSE American. The shares has began trading on the NYSE American on 17 November, 2023 under the symbol "DDC."
Founded in 2012, DayDayCook started out as an online platform for publishing short cooking videos and recipes, and later began to provide advertising services for brands. Today, DayDayCook has grown into a food innovator with leading content driven (i.e. using content to reach and engage target customers) consumer brands offering easy, convenient ready-to-heat, ready-to-cook, ready-to-eat and plant-based meal while promoting healthier lifestyle choices to its predominately Millennial and Generation Z customer-base.
Aggregate gross proceeds to DayDayCook from the IPO, before deducting underwriting discounts and commissions and other offering expenses, amounted to $33.15 million. DayDayCook expects to use the net proceeds from the sale of the shares for working capital, business expansion including through acquisitions, and repayment of loans.
DayDayCook successfully obtained the overseas issuance and listing filing notice from the China Securities Regulatory Commission for its US IPO, which ranks among the top companies that have recently gone public in the United States and filed with the China Securities Regulatory Commission.
Head of Private Equity in Greater China, Stephanie Tang, led the Hogan Lovells team on this transaction.
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