Concorde International Group Announces Closing of $5,000,000 Initial Public Offering

Rhea-AI Summary

Concorde International Group (NASDAQ: CIGL) has successfully completed its Initial Public Offering (IPO), raising $5.0 million in gross proceeds through the sale of 1,250,000 Class A ordinary shares at $4.00 per share. Trading began on the Nasdaq Capital Market on April 22, 2025, under ticker 'CIGL'.

The underwriters have a 45-day option to purchase up to 187,500 additional shares. R.F. Lafferty & Co. served as the sole book-running manager for this firm commitment offering.

The company plans to utilize the net proceeds for:

• Purchase and rollout of electric vehicular mobile command centers
• Research and development activities
• Regional market development and new market exploration
• Product development
• Working capital and general corporate purposes

Positive

• Successfully raised $5 million through IPO
• Achieved Nasdaq Capital Market listing
• Underwriters granted 45-day option for additional shares
• Proceeds allocated to growth initiatives and expansion

Negative

• Relatively small IPO size of $5 million may limit growth potential
• Potential dilution if underwriters exercise additional share option

Insights

Financial Analyst

CIGL's modest $5M IPO provides growth capital but the small raise size suggests near-term expansion capacity.

Concorde International Group's successful completion of its $5 million IPO represents a significant milestone but reflects a notably small capital raise by Nasdaq standards. The offering of 1,250,000 Class A ordinary shares priced at $4.00 per share has generated modest initial investor interest, with shares trading at $4.21 - representing a 5.25% gain since listing.

This security services provider, combining physical manpower with technology solutions, has earmarked proceeds for specific growth initiatives including electric vehicular mobile command centers, R&D activities, and market development. The firm commitment structure of the offering suggests reasonable underwriter confidence, though R.F. Lafferty's sole book-runner role is typical for smaller offerings.

Investors should note the 45-day underwriter option to purchase an additional 187,500 shares, representing potential dilution of 15% if fully exercised. This standard provision provides flexibility for increased capital raising if market demand warrants.

The $5 million raise, while providing working capital, may constrain the company's ability to rapidly scale operations or make substantial market inroads. For context, the median Nasdaq IPO typically raises significantly more capital. The successful listing does provide CIGL with public company status, potential future access to capital markets, and enhanced visibility within the security services sector.

Singapore, April 23, 2025 (GLOBE NEWSWIRE) -- Concorde International Group Ltd. (NASDAQ: CIGL) (“Concorde” or the “Company”), an integrated security services provider that combines physical manpower and innovative technology to deliver effective security solutions, today announced the closing of its initial public offering (the "Offering") of 1,250,000 Class A ordinary shares (the "Class A Ordinary Shares") at a public offering price of US$4.00 per share for total gross proceeds of US$5.0 million, before deducting underwriting discounts and other offering expenses. The Offering closed on April 23, 2025 and the Class A Ordinary Shares began trading on Nasdaq Capital Market on April 22, 2025, under the ticker symbol "CIGL."

The Company has granted the underwriters a 45-day option to purchase up to an additional 187,500 Class A Ordinary Shares at the public offering price, less underwriting discounts.

The Company intends to use the net proceeds from this Offering for or purchase and rollout of electric vehicular mobile command centers, research and development activities, regional market development and exploration of new markets, product development, working capital and general corporate purposes.

The Offering was conducted on a firm commitment basis. R.F. Lafferty & Co., Inc. ("R.F. Lafferty") acted as sole book-running manager for the Offering.

A registration statement on Form F-1 (File No. 333-281799) relating to the Offering, as amended, was filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on March 31, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement, and a free writing prospectus. Copies of the final prospectus related to the Offering may be obtained from R.F. Lafferty by email at offerings@rflafferty.com or via standard mail to R.F. Lafferty & Co., Inc, 40 Wall Street, 27th Floor, New York, NY10005. In addition, a copy of the final prospectus can also be obtained via the SEC's website at www.sec.gov.

Before you invest, you should read the prospectus, the free writing prospectus, and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these 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 any such state or jurisdiction.

About Concorde International Group Ltd

Concorde International Group Limited (Nasdaq: CIGL) is a Singapore-based company specializing in integrated security solutions and facilities management services. Established in 1997, the Company has transitioned from traditional security services to a technology-driven approach. This shift involves deploying advanced systems like CCTV, sensors, and mobile command vehicles, significantly reducing the need for physical guards and enhancing operational efficiency.

For more information, please visit: https://www.concordesecurity.com/. 

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, contact:

Investor Relations Contact:
Crescendo Communications, LLC
David Waldman/Natalya Rudman
Tel: (212) 671-1020
Email: CIGL@crescendo-ir.com 

FAQ

How much did Concorde International Group (CIGL) raise in its IPO?

Concorde International Group raised $5.0 million in gross proceeds through its IPO by selling 1,250,000 Class A ordinary shares at $4.00 per share.

What is the trading symbol and exchange for Concorde International Group's IPO?

Concorde International Group trades on the Nasdaq Capital Market under the ticker symbol 'CIGL'.

How will CIGL use the proceeds from its IPO?

CIGL will use proceeds for electric vehicular mobile command centers, R&D, market development, product development, working capital, and general corporate purposes.

What is the underwriter's option in CIGL's IPO?

Underwriters have a 45-day option to purchase up to 187,500 additional Class A Ordinary Shares at the public offering price.