天美生物美股招股说明书(2023-03-31版)

424B51form424b5.htm FiledPursuanttoRule424(b)(5)RegistrationNo.333-267116 ProspectusSupplement (toProspectusDatedNovember22,2022) $3,000,000worthofOrdinarySharesandWarrants BonNaturalLifeLimited Pursuanttothisprospectussupplementandtheaccompanyingprospectus,BonNaturalLifeLimitedisofferingdirectlytothepublicupto$3,000,000worthofordinarysharesoftheCompany,parvalue $0.0001pershare(the“OrdinaryShares”)inthree(3)tranchesatthesubscriptionpriceasdefinedbelow.Ordinarysharesissuedinthefirsttranchewillbeissuedonthefirsttradingdaythatoccursafter15calendardaysfromthefilingdateoftheCompany’sListingofAdditionalSharesNotificationFormwithNasdaq.ThesecondtrancheofOrdinaryShareswillbeissuedonthe11thtradingdayfromtheclosingdateofthefirsttranche.Ordinarysharesissuedinthethirdtranchewillbeissuedonthe11thtradingdayfromtheclosingdateofthesecondtranche. TheOrdinaryShareswillbepricedatthelowerof(a)$1.00pershareor(b)80%ofthemarketclosingpricefortheCompany’sOrdinarySharesasreportedbytheNasdaqCapitalMarketonthetradingdayimmediatelyprecedingtheclosingdatefortheinitialtranche.Thesubscriptionpriceforthefirstclosingdateshallremainfixedandwillbethesubscriptionpriceforalltheremainingclosingdatesthereafter. TogetherwitheachOrdinarySharesubscribedfor,wewillissueone(1)warranttopurchaseone(1)OrdinaryShareatanexercisepriceequalto120%ofthesubscriptionprice,exercisableforaperiodofthirty-six(36)monthsfollowingtheclosingdate.Wecurrentlyexpecttheinitialpublicofferingpricewillbe$1.00pershareandwarrantsexercisableat$1.20pershare,resultingin3,000,000OrdinarySharesand2,500,000OrdinarySharesissuableuponexerciseofwarrants. ForamoredetaileddescriptionoftheOrdinarySharesandwarrantsofferedhereby,seethesectionsentitled“DescriptionofShareCapitalandWarrants”beginningonpageS-47and“DescriptionofShareCapital”startingonpageS-47oftheaccompanyingprospectus.Thereisnoestablishedpublictradingmarketforthewarrants,andwedonotexpectamarkettodevelop.Wedonotintendtoapplytolistthewarrantsonanysecuritiesexchange. OurOrdinarySharesarelistedontheNasdaqCapitalMarket,or“Nasdaq,”underthesymbol“BON.”OnMarch28,2023,thelastreportedsalepriceofourOrdinarySharesonNasdaqwas$1.48pershare.TheaggregatemarketvalueofouroutstandingOrdinarySharesheldbynon-affiliates,orpublicfloat,asofMarch28,2023,wasapproximately$10,728,114whichwascalculatedbasedonOrdinarySharesheldbynon-affiliatesandthepriceof$1.48pershare,whichwastheclosingpriceofourOrdinarySharesonNasdaqonMarch28,2023. InvestinginourOrdinarySharesinvolvesahighdegreeofrisk.Beforemakinganinvestmentdecision,pleasereadtheinformationundertheheading“RiskFactors”beginningonpageS-18of thisprospectussupplementandriskfactorssetforthinourmostrecentannualreportonForm20-F,inotherreportsincorporatedhereinbyreference,andinanapplicableprospectussupplementundertheheading“RiskFactors.”NeithertheSecuritiesandExchangeCommissionnoranystatesecuritiescommissionhasapprovedordisapprovedtheissuanceofthesesecuritiesorpassedupontheadequacyoraccuracyofthisprospectussupplementortheaccompanyingprospectus.Anyrepresentationtothecontraryisacriminaloffense. InvestorsinourOrdinarySharesarenotpurchasingequitysecuritiesinoursubsidiariesthathavesubstantivebusinessoperationsinChinabutinsteadarepurchasingequitysecuritiesofaCaymanIslandsholdingcompany,BonNaturalLifeLimited.WeareaCaymanIslandsholdingcompanythatconductsallofouroperationsandoperatesourbusinessinChinathroughourPRCsubsidiaries.Suchstructureinvolvesuniqueriskstoinvestorsinourordinaryshares.ReferencesinthisProspectusto“BonNaturalLife,”“theCompany,”“we,”“us,”“ourcompany”or“our”aretoBonNaturalLifeLimitedaCaymanIslandscorporation,togetherwithitssubsidiariescollectively.Pleasesee“CommonlyDefinedTerms”fornamingconventionsregardingoursubsidiarycompanies.AlthoughwecontrolourPRCoperatingsubsidiariesthroughourHongKongandPRCsubsidiaries,investorsinthisofferingmayneverholdequityinterestsdirectlyinouroperatingentities.Inaddition,BonNaturalLifeLimited,theCaymanIslandscompanysellingsecuritiesinthisoffering,doesnotholdequityinterestsinthePRCoperatingsubsidiariesdiscussedherein.Instead,BonNaturalLifeownsaHongKongsubsidiary,whichinturnownstwoPRCsubsidiaries,whichinturnowntheoperatingPRCcompaniesdiscussedinthisProspectus.Pleaserefertotheorganizationalchartonpage1ofthisProspectus. Weoriginallycarriedoutourbusinessthroughavariableinterestentitystructure.EffectiveNovember1,2021,weterminatedtheoriginalVIEcontractualagreementsandcompletedthereorganizationofourcorporatestructureandallofouroperationsarecurrentlyconductedinChinathroughourwholly-ownedsubsidiaries. WedonotcurrentlyengageinanybusinesseswhereforeigninvestmentisrestrictedunderChineselaw,astheCompanyanditssubsidiariesdonotparticipateinanysectororindustrythatis“restricted”or“prohibited”fromforeigninvestmentunderthe“NegativeList”publishedbyChina’sNationalDevelopmentandReformCommissionandtheMinistryofCommerce.ThemostrecentversionofthePRC’sNegativeList,TheSpecialAdministrativeMeasures(NegativeList)forForeignInvestmentAccess(2021Edition)ortheNegativeList2021,lists31industriesinwhichforeigninves