Business
Samfine Creation Holdings Group Limited Announced Closing of Initial Public Offering
Hong Kong, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Samfine Creation Holdings Group Limited (Nasdaq: SFHG) (the “Company”), a one-stop printing service provider,
About this update from Samfine Creation Holdings Group Limited
[{"type":"text","content":"Hong Kong, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Samfine Creation Holdings Group Limited (Nasdaq: SFHG) (the “Company”), a one-stop printing service provider, today announced the closing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares (“Ordinary Shares”) at a price of $4.00 per share (the “Offering Price”). The Ordinary Shares began trading on the Nasdaq Capital Market on October 15, 2024 under the symbol “SFHG.” The aggregate gross proceeds from the Offering were $8.0 million, before deducting underwriting discounts and other related expenses. The Company intends to use the net proceeds for strengthening of its operating subsidiaries’ printing business in Hong Kong and expanding market presence in other international markets in particular the U.S., for purchasing machinery and improving and upgrading its operating subsidiaries’ production equipment to enhance level of automation, and for additional working capital and other general corporate purposes. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares at the Offering Price, less underwriting discounts. The Offering was conducted on a firm commitment basis. Cathay Securities, Inc. acted as the representative of the underwriters, and Revere Securities LLC and Dominari Securities LLC acted as co-underwriters (collectively, the “Underwriters”) for the Offering. Hunter Taubman Fischer & Li LLC acted as U.S. legal counsel to the Company and Ortoli Rosenstadt LLP acted as legal counsel to the Underwriters 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: 333-275498) and was declared effective by the SEC on September 30, 2024. The Offering was made only by means of a prospectus. A final prospectus relating to the Offering was filed with the SEC on October 15, 2024 and is available on the SEC’s website at www.sec.gov. Alternatively, electronic copies of the final prospectus relating to this Offering may be obtained from Cathay Securities, Inc. by email at [email protected], by standard mail to Cathay Securities, Inc., 40 Wall Street, Suite 3600, New York, NY 10005, or by telephone at +1 (855) 939-3888; or from Revere Securities LLC by email at contact@reveresecuri...