Business
Lianhe Sowell International Group Ltd Announces Closing of Initial Public Offering
Shenzhen, China, April 04, 2025 (GLOBE NEWSWIRE) -- Lianhe Sowell International Group Ltd (Nasdaq: LHSW) (the “Company”), a provider of machine vision products and solutions applied in a wide range of businesses across industries in China, today announced the closing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares (the “Ordinary Shares”) at a public offering price of $4 per share for aggregate gross proceeds of $8 million, before deducting underwriting discounts and
About this update from Lianhe Sowell International Group Ltd
[{"type":"image","alt":"Lianhe Sowell International Group Ltd","displaySize":"","headline":null,"caption":"Lianhe Sowell International Group Ltd","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":107,"url":"https://media.zenfs.com/en/globenewswire.com/1983223a99ff95501d84d2716187bc56"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/nUIrrxSadSv8XyTCfeKAhQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE1MDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/1983223a99ff95501d84d2716187bc56","width":300,"height":107}},"lazy":false},{"type":"text","content":"Shenzhen, China, April 04, 2025 (GLOBE NEWSWIRE) -- Lianhe Sowell International Group Ltd (Nasdaq: LHSW) (the “Company”), a provider of machine vision products and solutions applied in a wide range of businesses across industries in China, today announced the closing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares (the “Ordinary Shares”) at a public offering price of $4 per share for aggregate gross proceeds of $8 million, before deducting underwriting discounts and other offering expenses. The Ordinary Shares commenced trading on Nasdaq Capital Market on April 3, 2025, under the ticker symbol “LHSW”. The Offering closed on April 4, 2025.","length":675,"tagName":"p"},{"type":"text","content":"The Company has granted the underwriters an option, exercisable within 30 days from the closing date of the Offering, to purchase up to an additional 300,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover over-allotments, if any.","length":266,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds from the Offering for (i) investment in machine vision business, research and development for new products and relevant market expansion; (ii) expansion of the spray painting robot business, including the preliminary installation of production equipment and machineries of an in-house production and assembly line for production of Nine-Axis Linkage Spray Painting Robots; and (iii) general corporate purposes and working capital.","length":474,"tagName":"p"},{"type":"text","content":"The Offering was conducted on a firm commitment basis. R.F. Lafferty & Co., Inc. acted as sole underwriter for the Offering. Robinson & Cole LLP acted as U.S. securities counsel to the Company, and Ellenoff Grossm...