Hanryu Holdings Inc: Hanryu Holdings Announces Filing of Registration Statement for Proposed Initial Public Offering

SEOUL, SOUTH KOREA / ACCESSWIRE / March 23, 2023 / Hanryu Holdings, Inc. ("Hanryu"), a media tech company and creator of social media platform, FANTOO, announced today that it has filed an amended registration statement on Form S-1/A to include its audited financial results for the fiscal year ended December 31, 2022 (and related disclosures related thereto) with the U.S. Securities and Exchange Commission ("SEC") relating to the proposed initial public offering of its shares of common stock.

Hanryu has applied to list its common stock on The Nasdaq Capital Market under the ticker symbol "HYRU." The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Aegis Capital Corp. is acting as the sole book-running manager for the proposed offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, may be obtained from: Aegis Capital Corp., Prospectus Department, 810 7th Ave, 18th Floor, New York, NY 10019, telephone: [phone] or email: [e-mail].

A registration statement on Form S-1 relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Hanryu Holdings

Hanryu Holdings is a media tech holding company incorporated in the U.S. with operations through its subsidiaries in South Korea. The Company has created FANTOO to provide distinctive service offerings, technology, applications and websites, through a multi-media global social media platform for users to interact with other like-minded users and share their appreciation as fans of various types of entertainment and cultures, create their own content, enjoy other user's content, engage in e-commerce, and experience a community we believe is unlike any other.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and include, without limitation, statements concerning the Company's business strategy, future revenues, market growth, capital requirements, product introductions, expansion plans and the adequacy of its funding, the proposed offering, and the plan to list on the The Nasdaq Capital Market. Other statements contained in this press release that are not historical facts are forward-looking statements. The Company has tried, wherever possible, to identify forward-looking statements by terminology such as "may," "will," "could," "should," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and other comparable terminology.

The Company cautions you that any forward-looking statements presented in this press release are based on the beliefs of, assumptions made by, and information currently available to us. Such statements are based on assumptions, and the actual outcome will be affected by known and unknown risks, trends, uncertainties, and factors that are beyond the Company's control or ability to predict. Although the Company believes that its assumptions are reasonable, it is not guaranteeing of future performance, and some will inevitably prove to be incorrect. As a result, the Company's actual future results can be expected to differ from its expectations, and those differences may be material. Accordingly, you should use caution in relying on forward-looking statements, which are based only on known results and trends at the time they are made, to anticipate future results or trends. Certain risks are discussed from time to time in the Company's filings with the SEC.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Company Contact:

Hanryu Holdings, Inc.
Amy Shi
[e-mail]

Investor Contact:

KCSA Strategic Communications
Valter Pinto, Managing Director
PH: [phone]
[e-mail]

SOURCE: Hanryu Holdings Inc

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