Everbright Digital Holding Limited Announces Closing of Initial Public Offering

Rhea-AI Summary

Everbright Digital Holding (EDHL), a Hong Kong-based integrated marketing solutions provider, has successfully completed its Initial Public Offering (IPO) on the Nasdaq Capital Market. The company offered 1,500,000 ordinary shares at $4.00 per share, raising gross proceeds of $6.0 million.

Trading commenced on April 17, 2025, under the ticker symbol 'EDHL'. The underwriters have a 45-day option to purchase an additional 225,000 shares. The net proceeds will fund:

• Marketing and business expansion
• Core technologies R&D
• Overseas business development
• Talent acquisition and training
• General working capital

Dominari Securities led the firm commitment offering, with Revere Securities as co-underwriter and Pacific Century Securities, as advisor.

Positive

• Successfully completed IPO raising $6.0 million in gross proceeds
• Achieved Nasdaq Capital Market listing
• Underwriters have option for additional 225,000 shares
• Clear allocation of funds for growth initiatives

Negative

• Relatively small IPO size may limit growth potential
• Significant portion of proceeds will be reduced by underwriting discounts and expenses

Insights

Financial Analyst specializing in IPOs

Everbright's $6M Nasdaq IPO completed successfully with shares trading 5% above offer price, representing modest but positive market entry.

Everbright Digital Holding has completed its initial public offering, raising $6.0 million in gross proceeds through the sale of 1,500,000 ordinary shares at $4.00 per share. The Hong Kong-based marketing solutions provider began trading on the Nasdaq Capital Market on April 17 under ticker "EDHL", with shares now trading at $4.20 - a 5% increase from the offering price.

The IPO structure includes a 45-day option for underwriters to purchase up to 225,000 additional shares, potentially increasing total proceeds. The offering was conducted on a firm commitment basis, with Dominari Securities as lead underwriter and Revere Securities as co-underwriter.

This capital raise is relatively modest for a Nasdaq listing, reflecting a measured approach to public markets. The company has outlined multiple strategic uses for the proceeds, including:

• Marketing and business expansion
• Research and development of core technologies
• Business development overseas
• Talent acquisition and training
• General working capital

For Everbright, this successful listing provides access to U.S. capital markets and potentially enhanced global visibility. The diversified allocation of proceeds demonstrates a balanced growth strategy spanning both geographic expansion and technological advancement.

Business Strategy Expert

Everbright's Nasdaq IPO signals global ambitions with strategic capital allocation across international expansion, R&D, and talent acquisition.

Everbright's decision to pursue a Nasdaq listing rather than regional exchanges represents a strategic positioning move for this Hong Kong-based integrated marketing solutions provider. The $6 million raise, while conservative, provides targeted capital for specific growth initiatives.

The company's capital allocation strategy reveals key priorities that will shape its competitive positioning. The dual focus on both overseas business development and R&D investment suggests a technology-driven approach to international expansion. For marketing solution providers, maintaining technological differentiation is essential in an increasingly competitive landscape.

The offering structure includes flexibility through the 45-day option for underwriters to purchase additional shares, representing 15% of the base offering. This standard but prudent approach balances immediate capital needs with the ability to capture additional funding if market demand proves strong.

Everbright's successful completion of the IPO process, including SEC registration and underwriter coordination, demonstrates operational execution capabilities. The firm commitment underwriting structure provided certainty of proceeds compared to best-efforts alternatives.

The multiple use cases for the funds indicate a balanced strategy that addresses both near-term operational needs (working capital) and longer-term strategic initiatives (R&D, international expansion). This diversified approach aims to strengthen both current operations and future competitive positioning.

HONG KONG, April 21, 2025 (GLOBE NEWSWIRE) -- Everbright Digital Holding Limited (the “Company” or “Everbright”), an integrated marketing solutions provider headquartered in Hong Kong, today announced the closing of its initial public offering (the “Offering”) of 1,500,000 ordinary shares, par value US$0.00004 per share (the “Ordinary Shares”), at a public offering price of US$4.00 per ordinary share. The Ordinary Shares began trading on the Nasdaq Capital Market on April 17, 2025, under the ticker symbol “EDHL.”

The Company received aggregate gross proceeds of US$6.0 million from the sale of Ordinary Shares offered by the Company in 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 225,000 ordinary shares at the public offering price, less underwriting discounts.

Net proceeds from the Offering will be used by the Company for marketing and business expansion, continued research and development of our core technologies, business development overseas, talent acquisition and training, as well as for general working capital and corporate purposes.

The Offering was conducted on a firm commitment basis. Dominari Securities LLC acted as the lead underwriter and Revere Securities LLC acted as co-underwriter for the Offering. Pacific Century Securities, LLC acted as an advisor to the Company. Ortoli Rosenstadt LLP acted as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to the underwriters.

 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: 333-285191), as amended, and was declared effective by the SEC on March 31, 2025. 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 may be obtained from Dominari Securities LLC by email at info@dominarisecurities.com, by standard mail to Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor, New York, NY 10022, or by calling (212) 393-4500. In addition, copies of the final 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 file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s 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 such state or jurisdiction.

About Everbright Digital Holding Limited

Everbright Digital Holding Limited is an integrated marketing solutions provider headquartered in Hong Kong. The Company conducts all operations in Hong Kong through its operating subsidiary, Hong Kong United Metaverse Limited. The Company is an integrated marketing solutions provider in Hong Kong that is deeply involved in the metaverse and related technologies, providing one-stop digital marketing services to support businesses through every stage of their development, including metaverse stimulation, virtual reality (VR) and augmented reality (AR) design and creation, creative event planning and management, IP character creation and social media marketing.

For more information, please visit the Company’s website: https://umeta.hk/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For investor and media inquiries, please contact:

Everbright Digital Holding Limited
Leung Chun Yip, CEO
Email: michael@umeta.hk

FAQ

How much did Everbright Digital Holding (EDHL) raise in its IPO?

Everbright Digital Holding raised $6.0 million in gross proceeds through its IPO by offering 1,500,000 ordinary shares at $4.00 per share.

When did EDHL stock begin trading on Nasdaq?

EDHL began trading on the Nasdaq Capital Market on April 17, 2025.

What is the underwriters' option in EDHL's IPO?

The underwriters have a 45-day option to purchase up to an additional 225,000 ordinary shares at the public offering price.

How will EDHL use its IPO proceeds?

EDHL will use the proceeds for marketing and business expansion, R&D of core technologies, overseas business development, talent acquisition, and general working capital.

Who were the underwriters for EDHL's IPO?

Dominari Securities acted as lead underwriter, with Revere Securities as co-underwriter.