Business
Charming Medical Limited Announces Full Exercise of Representative's Over-allotment Option
Charming Medical Limited (Nasdaq: MCTA) (the "Company"), a Hong Kong-based provider of Traditional Chinese Medicine (TCM)-inspired therapies and products, today announced, in connection with its previously announced 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"), Cathay Securities, Inc., the representative of the underwriters (the "Representative
About this update from Charming Medical Limited
[{"type":"text","content":"HONG KONG, Oct. 28, 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, in connection with its previously announced 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"), Cathay Securities, Inc., the representative of the underwriters (the "Representative") of the Offering, has exercised its over-allotment option (the "Over-allotment") in full to purchase an additional 240,000 Class A Ordinary Shares at the Public Offering Price, and the closing of such issuance.","length":883,"tagName":"p"},{"type":"text","content":"The Class A Ordinary Shares of the Company commenced trading on the Nasdaq Capital Market on October 21, 2025, under the ticker symbol "MCTA." The gross proceeds from this Over-allotment closing were US$0.96 million and the aggregate gross proceeds from the Offering increased to approximately US$7.36 million, before deducting underwriting discounts and other offering expenses. 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":635,"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":427,"tagName":"p"},{"type":"text","content":"The Offering was conducted pursuant to the Company's registration statement on Form F-1 (File No. 333-287258), as amended, previously filed with, and subsequently declared effective by the United States Securities and Exchange Commission (the "SEC&...