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Intelligent Living Application Group Inc. Announces Closing of $20.24 Million Initial Public Offering
Hong Kong, July 15, 2022 (GLOBE NEWSWIRE) -- Intelligent Living Application Group Inc. (Nasdaq: ILAG) (the “Company” or “Intelligent Living”), a premium
About this update from Intelligent Living Application Group Inc.
[{"type":"text","content":"Hong Kong, July 15, 2022 (GLOBE NEWSWIRE) -- Intelligent Living Application Group Inc. (Nasdaq: ILAG) (the “Company” or “Intelligent Living”), a premium lockset manufacturer in Hong Kong, today announced the closing of its initial public offering (the “Offering”) of 5,060,000 ordinary shares at a price of $4.00 per share. The aggregate gross proceeds from the Offering were $20.24 million, before deducting underwriting discounts and other related expenses. The ordinary shares began trading on The Nasdaq Capital Market on July 13, 2022 under the ticker symbol “ILAG.” The Offering was conducted on a firm commitment basis. Network 1 Financial Securities, Inc. acted as sole book runner and lead underwriter for the Offering. A registration statement on Form F-1 relating to the Offering has been filed with the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-248684) and was declared effective by the SEC on July 12, 2022. The Offering was made only by means of a final prospectus. A final prospectus relating to the Offering was filed with the SEC on July 14, 2022, which may be obtained from Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241, Red Bank, NJ 07701, Attention: Adam Pasholk by email at [email protected] or Karen (Huiyun) Mu, by email at [email protected], or by calling +1 (800)-886-7007. In addition, a copy of the final prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. About Intelligent Living Application Group Inc. Intelligent Living Application Group Inc. is a premium lockset manufacturer in Hong Kong. Intelligent Living manufactures and sells high quality mechanical locksets to customers mainly in the United States and Canada and has continued to diversify and refine its product offerings in the past 40 years to meet its customers’ needs. Intelligent Living has obtained the ISO9001 quality assurance certificate and various accredited quality and safety certific...