Haoxi Health Technology Limited Announces Pricing of $12 Million Follow-On Public Offering Page 1

BEIJING, Sept. 19, 2024 (GLOBE NEWSWIRE) — Haoxi Health Technology Limited (the “Company” or “HAO”), an online marketing solutions provider headquartered in Beijing, China, today announced the pricing of its follow-on underwritten public offering (the “Offering”) of 4,000,000 units (each, a “Unit” and collectively, the “Units”) at an offering price of $3.00 per Unit (the “Public Offering Price”), for aggregate gross proceeds of $12,000,000, before deducting underwriting discounts and other offering expenses. Each Unit will consist of (i) one share of Class A common stock, par value $0.0001 per share (the “Class A Common Stock”) (or one pre-funded warrant to purchase one share of Class A common stock (the “Pre-Funded Warrant”)), (ii) one Series A warrant to purchase one share of Class A common stock (the “Series A Warrant”) (subject to certain adjustments contained therein), and (iii) one Series B warrant to purchase the number of shares of Class A common stock described in the prospectus relating to the Offering (the “Series B Warrant,” together with the Series A Warrant, the “Warrants”). The Warrants will have a term of 5 years from the closing date of the Offering (the “Closing Date”). The Series A Warrant will be exercisable immediately upon issuance or the Closing Date. The Series B Warrant will be exercisable at any time on or after the sixteenth (16th) December 31, 2019.^th) calendar day from the closing date (the “Series B Exercise Date”). The Series A Warrants will have an initial exercise price of $3.00 per share of Class A common stock. On the Series B Exercise Date, the Series A Warrant exercise price will be adjusted to $0.60 and the maximum number of shares of Class A common stock issuable upon exercise of the Series A Warrants will be adjusted to 20,000,000 shares. The exercise price of the Series B Warrants will be $0.0001 per share of Class A common stock. The maximum number of shares issuable upon exercise of the Series B Warrants is 16,000,000 shares. The Units will have no separate rights and will not be certified or issued as separate securities. The Class A common stock, the Pre-Funded Warrants and the related Warrants will be immediately separable and will be issued separately in the Offering.

The offering will be made on a firm commitment basis. The Company has granted the underwriter, EF Hutton LLC (“EF Hutton”), an option to purchase up to an additional 600,000 Units at the public offering price, less underwriting discounts, to cover the over-allotment option within 45 days of the closing date.