DDC Enterprise Ltd (Ticker: DDC US), also known as DayDayCook, is a company operating in the E-Commerce/Services industry, with a focus on promoting Asian cooking globally through its content-driven consumer brand. Based in Hong Kong, DayDayCook specializes in ready-to-heat (RTH), ready-to-cook (RTC), and ready-to-eat (RTE) products, targeting Millennial and Generation Z customers. The company announced its initial public offering (IPO) on July 25, 2023, and is set to list on the New York Stock Exchange American (NYSEAmerican) on November 17, 2023.
The IPO was initially planned to offer 4.25 million Class A ordinary shares within the price range of $9.50 to $11.50. However, the offering was priced below this range at $8.50 per share, resulting in a downsized IPO of 3.9 million shares, raising a total of $33.15 million. The market capitalization at the offer is estimated at $163.91 million. DDC Enterprise Ltd has also granted the underwriters a 30-day option to purchase an additional 585,000 shares at the IPO price, less underwriting discounts and commissions.
The offering is managed by CMB International Capital Corp Ltd (Left Lead), The Benchmark Company Inc., Freedom 3 Capital LLC, and Maxim Group LLC.