197  0 Kommentare Raytech Holding Limited Announces Closing of $6 Million Initial Public Offering

Hong Kong, May 17, 2024 (GLOBE NEWSWIRE) -- Raytech Holding Limited (the “Company” or “RAY”), a Hong Kong-headquartered company specializing in design, sourcing and wholesale of personal care electrical appliances for international brand owners, today announced the closing of its initial public offering (the "Offering") of 1,500,000 ordinary shares (the "Ordinary Shares") at an initial public offering price of $4 per share for total gross proceeds of $6,000,000, before deducting underwriting discounts and other offering expenses. The Offering closed on May 17, 2024, and the Ordinary Shares began trading on Nasdaq Capital Market on May 15, 2024, under the ticker symbol "RAY". The Company has granted the underwriters, an option, within 45 days from the closing date of the Offering, to purchase up to an additional 225,000 Ordinary Shares at the initial public offering price, less underwriting discounts, to cover the over-allotments, if any.

The Offering was conducted on a firm commitment basis. Revere Securities LLC, acted as the representative of the underwriters, R.F. Lafferty & Co., Inc. acted as the joint book runner, and Dominari Securities LLC acted as co-manager, (the “Underwriters”) for the Offering. Robinson & Cole LLP acted as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the Underwriters, in connection with the Offering.

The Company intends to use the proceeds from this Offering for 1) brand promotion and marketing (25%); 2) recruitment of talented personnel (25%); 3) strategic investments and acquisitions (25%); and 4) general working capital (25%).

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A registration statement on Form F-1 (File No. 333-275197) relating to the Offering, as amended, has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective by the SEC on May 13, 2024. The Offering is being made only by means of a prospectus. Copies of the final prospectus related to the Offering may be obtained, when available, from Revere Securities LLC by email at info@reveresecurities.com or via standard mail to Revere Securities LLC, 560 Lexington Avenue 16Fl, NY, NY 10022. In addition, a copy of the final prospectus can also be obtained via the SEC's website at www.sec.gov.