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Skyline Builders Group Holding Limited Announces Underwriters’ Full Exercise of Over-allotment Option
Hong Kong, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Skyline Builders Group Holding Limited (NASDAQ: SKBL) (the “Company”), a civil engineering services provider in
About this update from Skyline Builders Group Holding Limited
[{"type":"text","content":"Hong Kong, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Skyline Builders Group Holding Limited (NASDAQ: SKBL) (the “Company”), a civil engineering services provider in Hong Kong, today announced that on February 10, 2025, the underwriter of its previously announced initial public offering (“Offering”) has exercised its over-allotment option in full (the “Over-Allotment Option”) and purchased an additional 225,000Class A Ordinary Shares of the Company at the public offering price of $4.00 per share, resulting in additional gross proceeds of $900,000. After giving effect to the full exercise of the Over-Allotment Option, the total number of Class A Ordinary Shares sold by the Company in the Offering increased to 1,725,000 Class A Ordinary Shares and the gross proceeds increased to $6,900,000, before deducting underwriting discounts and commissions. Proceeds from the Offering will be used to enhance the Company’s capacities in hiring additional staff, strengthen its market position in the civil engineering industry, acquire machinery to enhance its capacity, enhance the Company’s brand, as well as to fund working capital and for other general corporate purposes. The Class A Ordinary Shares commenced trading on Nasdaq Capital Market on January 23, 2025 under the ticker symbol “SKBL.” The Offering was conducted on a firm commitment basis. Dominari Securities LLC acted as representative of the underwriters with Revere Securities LLC acted as co-underwriter (collectively, the “Underwriters”) for the Offering. Loeb & Loeb LLP acted as counsel to the Company, and Sichenzia Ross Ference Carmel LLP acted as counsel to the Underwriters in connection with the Offering. A registration statement on Form F-1 relating to the Offering was filed with the Securities and Exchange Commission (“SEC”) (File Number: 333-282720) and was declared effective by the SEC on December 31, 2024. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor, New York, NY 10022. In addition, a copy of the 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 a solicitation of an offer to buy these securities, nor sh...