Business
Fenbo Holdings Limited Announces Closing of Its Initial Public Offering
Hong Kong, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Fenbo Holdings Limited (the “Company” or “Fenbo”), an established provider of personal care electric appliances
About this update from Fenbo Holdings Limited
[{"type":"text","content":"Hong Kong, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Fenbo Holdings Limited (the “Company” or “Fenbo”), an established provider of personal care electric appliances and toys products to oversea markets, today announced the closing of its initial public offering (the \"Offering\") of 1,000,000 ordinary shares (the \"Ordinary Shares\") at a public offering price of $5.00 per share for total gross proceeds of $5,000,000, before deducting underwriting discounts and other offering expenses. The Offering closed on December 1, 2023 and the Ordinary Shares began trading on Nasdaq Capital Market on November 30, 2023, under the ticker symbol \"FEBO\". The Company has granted the underwriters an option, within 45 days from the date of the prospectus, to purchase up to an additional 150,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover the over-allotment option, if any. The Offering has been conducted on a firm commitment basis. EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”), acted as sole book-running manager for the Offering. Schlueter & Associates, P.C. acted as U.S. counsel to the Company, and Sichenzia Ross Ference Carmel LLP acted as U.S. counsel to EF Hutton, in connection with the Offering. The Company intends to use the proceeds from this Offering for 1) expanding production capacity and capability; 2) strengthening engineering, research and development capability; 3) penetrating and further expanding into new and existing geographical markets; 4) general working capital; and 5) an advisory fee. A registration statement on Form F-1 (File No. 333-274448) 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 November 27, 2023. The Offering was made only by means of a prospectus. Copies of the final prospectus related to the Offering may be obtained, from EF Hutton, Attn: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, or via email at [email protected] or telephone at (212) 404-7002. In addition, a copy of the final prospectus can also be obtained via the SEC's website at www.sec.gov. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offer...