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SIMPPLE LTD. Announces Pricing of US$8.4 Million Initial Public Offering
Singapore, Sept. 12, 2023 (GLOBE NEWSWIRE) -- SIMPPLE LTD. (the “Company” or “SIMPPLE”), an advanced technology solution provider in the emerging
About this update from Simpple Ltd.
[{"type":"text","content":"Singapore, Sept. 12, 2023 (GLOBE NEWSWIRE) -- SIMPPLE LTD. (the “Company” or “SIMPPLE”), an advanced technology solution provider in the emerging property-technology (“PropTech”) space, today announced the pricing of its initial public offering (the “Offering”) of 1,602,000 ordinary shares at a public offering price of US$5.25 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on September 13, 2023 under the ticker symbol “SPPL”. The Company expects to receive aggregate gross proceeds of US$8.4 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 240,300 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about September 15, 2023, subject to the satisfaction of customary closing conditions. Proceeds from the Offering will be used for research and development of products and technology as well as intellectual property strategy and implementation, scaling up sales and marketing into overseas markets and for opening selected satellite offices, potential acquisitions and strategic investments and working capital and general corporate purposes. Maxim Group LLC is acting as the sole book running manager of the Offering. Loeb & Loeb LLP is acting as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to Maxim Group LLC in connection with the Offering. 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: 333-271067) and was declared effective by the SEC on September 12, 2023. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, by email at [email protected], or by telephone at +1-212-895-3500. In addition, copies of the prospectus relating to the Offering may 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 ...