Business
Happy City Holdings Limited Announces Closing of Initial Public Offering
Hong Kong, June 25, 2025 (GLOBE NEWSWIRE) -- Happy City Holdings Limited (Nasdaq: HCHL) (the “Company”), an established all-you-can-eat hotpot restaurant operator in Hong Kong , announced the closing of its initial public offering (the “Offering”) of 1,100,000 Class A ordinary shares (the “Class A Ordinary Shares”), at a price of $5.00 per Class A Ordinary Share (the “Offering Price”) The Class A Ordinary Shares commenced trading on the Nasdaq Capital Market on June 24, 2025 under the symbol “HC
About this update from Happy City Holdings Limited
[{"type":"text","content":"Hong Kong, June 25, 2025 (GLOBE NEWSWIRE) -- Happy City Holdings Limited (Nasdaq: HCHL) (the “Company”), an established all-you-can-eat hotpot restaurant operator in Hong Kong , announced the closing of its initial public offering (the “Offering”) of 1,100,000 Class A ordinary shares (the “Class A Ordinary Shares”), at a price of $5.00 per Class A Ordinary Share (the “Offering Price”)","length":387,"tagName":"p"},{"type":"text","content":"The Class A Ordinary Shares commenced trading on the Nasdaq Capital Market on June 24, 2025 under the symbol “HCHL.”","length":116,"tagName":"p"},{"type":"text","content":"The Company received aggregate gross proceeds of US$5.5 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 165,000 Class A Ordinary Shares of the Company, at the Offering Price, representing 15% of the Class A Ordinary Shares sold in the Offering (the “Over-allotment Options”).","length":424,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds from the Offering for its business expansion in Hong Kong and Southeast Asia region and working capital and general corporate purposes.","length":179,"tagName":"p"},{"type":"text","content":"The Offering was conducted on a firm commitment basis. Dominari Securities LLC acts as the representative of the underwriters, with Revere Securities LLC and Pacific Century Securities LLC acting as the co-underwriters (collectively, the “Underwriters”) for the Offering. Ortoli Rosenstadt LLP, Ogier, David Fong & Co. and China Commercial Law Firm act as United States, British Virgin Islands, Hong Kong and People’s Republic of China legal counsels to the Company, respectively. AOGB CPA LIMITED acts as the reporting accountants of the Company. VCL Law LLP acts as legal counsel to the Underwriters for the Offering.","length":623,"tagName":"p"},{"type":"text","content":"A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333- 285856), as amended, and was declared effective by the SEC on May 30, 2025. The Offering was made by means of a prospectus, forming a part of the registration statement. You may get these documents for free by...