Business
Charming Medical Limited Announces Closing of Initial Public Offering
Charming Medical Limited (Nasdaq: MCTA) (the "Company"), a Hong Kong-based provider of Traditional Chinese Medicine (TCM)-inspired therapies and products, today announced the closing of its initial public offering (the "Offering") of 1,600,000 Class A ordinary shares, par value $0.0001 per share (the "Class A Ordinary Shares") at a price of $4.00 per share (the "Public Offering Price"). The Company's Class A Ordinary Shares began trading on the Nasdaq Capital Market under the symbol "MCTA" on Oc
About this update from Charming Medical Limited
[{"type":"text","content":"HONG KONG, Oct. 22, 2025 /PRNewswire/ -- Charming Medical Limited (Nasdaq: MCTA) (the "Company"), a Hong Kong-based provider of Traditional Chinese Medicine (TCM)-inspired therapies and products, today announced the closing of its initial public offering (the "Offering") of 1,600,000 Class A ordinary shares, par value $0.0001 per share (the "Class A Ordinary Shares") at a price of $4.00 per share (the "Public Offering Price"). The Company's Class A Ordinary Shares began trading on the Nasdaq Capital Market under the symbol "MCTA" on October 21, 2025.","length":630,"tagName":"p"},{"type":"text","content":"The Company received total gross proceeds of $6.4 million from the Offering, before deducting underwriting discounts, non-accountable expense allowance, and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for expanding its business and geographic coverage, potential strategic investments and acquisitions, research and development, and for general working capital and corporate purposes.","length":459,"tagName":"p"},{"type":"text","content":"The Company has granted the underwriters an over-allotment option to purchase up to an additional 240,000 Class A Ordinary Shares at the Public Offering Price, representing 15% of the Class A Ordinary Shares sold in the Offering (the "Over-allotment Option"), exercisable within 45 days from the closing date of the Offering. If the Over-allotment Option is exercised in full, the gross proceeds will amount to approximately $7.36 million, before deducting underwriting discounts and other offering expenses.","length":518,"tagName":"p"},{"type":"text","content":"The Offering was conducted on a firm commitment basis. Cathay Securities, Inc. acted as the representative of the underwriters for the Offering. Ortoli Rosenstadt LLP, Harney Westwood & Riegels, and Fairbairn Catley Low & Kong acted as United States, British Virgin Islands, and Hong Kong counsels to the Company, respectively. Kaufman & Canoles, P.C. acted as U.S. counsel to the underwriters for the Offering.","length":423,"tagName":"p"},{"type":"text","content":"The Offering was conducted pursuant to the Company's registration statement on Form F-1 (File No. 333-287258), a...