EPWK HOLDINGS LTD. Announces Full Exercise of Underwriters' Over-Allotment Option
EPWK Holdings announced the full exercise of underwriters' over-allotment option for its initial public offering, with underwriters purchasing an additional 412,500 Class A ordinary shares at $4.10 per share. The total gross proceeds from the IPO, including the over-allotment, reached $12.97 million before deducting underwriting discounts and expenses.
The company's Class A ordinary shares began trading on the Nasdaq Global Market on February 6, 2025, under the ticker symbol 'EPWK'. The proceeds will fund business development, marketing, R&D, exploration of new products and services, creation of an online global design center, and general corporate purposes.
Cathay Securities acted as the lead underwriter, with Revere Securities as co-underwriter. The offering was conducted through a Registration Statement on Form F-1 declared effective by the SEC on February 3, 2025.
EPWK Holdings ha annunciato l'esercizio completo dell'opzione di sovrallocazione da parte dei sottoscrittori per la sua offerta pubblica iniziale, con i sottoscrittori che hanno acquistato ulteriori 412.500 azioni ordinarie di Classe A a $4,10 per azione. I proventi lordi totali dall'IPO, inclusa la sovrallocazione, hanno raggiunto $12,97 milioni prima di dedurre gli sconti e le spese di sottoscrizione.
Le azioni ordinarie di Classe A della società hanno iniziato a essere scambiate sul Nasdaq Global Market il 6 febbraio 2025, con il simbolo ticker 'EPWK'. I proventi verranno utilizzati per lo sviluppo aziendale, il marketing, la ricerca e sviluppo, l'esplorazione di nuovi prodotti e servizi, la creazione di un centro di design globale online e per scopi aziendali generali.
Cathay Securities ha agito come principale sottoscrittore, con Revere Securities come co-sottoscrittore. L'offerta è stata condotta attraverso una Dichiarazione di Registrazione sul Modulo F-1 dichiarata efficace dalla SEC il 3 febbraio 2025.
EPWK Holdings anunció el ejercicio completo de la opción de sobreasignación de los suscriptores para su oferta pública inicial, con los suscriptores comprando 412,500 acciones ordinarias de Clase A adicionales a $4.10 por acción. Los ingresos brutos totales de la OPI, incluida la sobreasignación, alcanzaron $12.97 millones antes de deducir los descuentos y gastos de suscripción.
Las acciones ordinarias de Clase A de la compañía comenzaron a cotizar en el Nasdaq Global Market el 6 de febrero de 2025, bajo el símbolo de cotización 'EPWK'. Los ingresos se destinarán al desarrollo empresarial, marketing, I+D, exploración de nuevos productos y servicios, creación de un centro de diseño global en línea y propósitos corporativos generales.
Cathay Securities actuó como el suscriptor principal, con Revere Securities como co-suscriptor. La oferta se realizó a través de una Declaración de Registro en el Formulario F-1 declarada efectiva por la SEC el 3 de febrero de 2025.
EPWK Holdings는 초기 공모를 위한 인수인의 초과 배정 옵션을 완전히 행사했다고 발표했으며, 인수인은 추가로 412,500주의 A등급 보통주를 주당 $4.10에 매입했습니다. 초과 배정을 포함한 IPO의 총 총수익은 $12.97 백만에 달하며, 인수 수수료와 비용을 공제하기 전입니다.
회사의 A등급 보통주는 2025년 2월 6일 Nasdaq Global Market에서 'EPWK'라는 티커 기호로 거래를 시작했습니다. 이 수익은 사업 개발, 마케팅, 연구개발, 새로운 제품 및 서비스 탐색, 온라인 글로벌 디자인 센터 설립 및 일반 기업 목적에 사용될 것입니다.
Cathay Securities는 주관 인수인으로 활동하였고, Revere Securities는 공동 주관 인수인으로 참여했습니다. 이 제안은 2025년 2월 3일 SEC에 의해 효력이 발생된 F-1 양식의 등록신청서를 통해 진행되었습니다.
EPWK Holdings a annoncé l'exercice complet de l'option de surallocation des souscripteurs pour son introduction en bourse, les souscripteurs ayant acheté 412 500 actions ordinaires de Classe A supplémentaires à 4,10 $ par action. Le produit brut total de l'IPO, y compris la surallocation, s'est élevé à 12,97 millions $ avant déduction des remises et des frais de souscription.
Les actions ordinaires de Classe A de la société ont commencé à être négociées sur le Nasdaq Global Market le 6 février 2025, sous le symbole boursier 'EPWK'. Les fonds seront utilisés pour le développement commercial, le marketing, la recherche et développement, l'exploration de nouveaux produits et services, la création d'un centre de design mondial en ligne et des fins corporatives générales.
Cathay Securities a agi en tant que souscripteur principal, avec Revere Securities comme co-souscripteur. L'offre a été réalisée par le biais d'une déclaration d'enregistrement sur le formulaire F-1 déclarée efficace par la SEC le 3 février 2025.
EPWK Holdings gab die vollständige Ausübung der Überzeichnungsoption der Underwriter für ihr öffentliches Angebot bekannt, wobei die Underwriter zusätzlich 412.500 Stammaktien der Klasse A zu je 4,10 $ pro Aktie erwarben. Die gesamten Bruttoeinnahmen aus dem IPO, einschließlich der Überzeichnung, beliefen sich auf 12,97 Millionen $, bevor die Underwriting-Rabatte und -Kosten abgezogen wurden.
Die Stammaktien der Klasse A des Unternehmens begannen am Nasdaq Global Market am 6. Februar 2025 zu handeln, unter dem Tickersymbol 'EPWK'. Die Erlöse werden für Unternehmensentwicklung, Marketing, Forschung und Entwicklung, Erschließung neuer Produkte und Dienstleistungen, Schaffung eines globalen Online-Designzentrums und allgemeine Unternehmenszwecke verwendet.
Cathay Securities fungierte als Hauptunderwriter, während Revere Securities als Co-Underwriter tätig war. Das Angebot wurde über eine Registrierungsanmeldung auf dem Formular F-1 durchgeführt, die am 3. Februar 2025 von der SEC für wirksam erklärt wurde.
- Successfully raised $12.97 million in gross proceeds from IPO
- Achieved Nasdaq Global Market listing
- Full exercise of over-allotment option indicates strong initial demand
- Potential shareholder dilution from additional shares issued
Insights
The full exercise of the over-allotment option for EPWK Holdings' IPO represents a significant milestone, though the total raise of
The strategic allocation of funds reveals EPWK's growth-oriented mindset, with investments planned across multiple value-creating initiatives. The focus on developing an online global design center suggests an attempt to differentiate in the competitive cloud-sourcing space, where platforms like Upwork and Fiverr dominate the Western markets. This move could potentially help EPWK capture market share in the growing digital talent marketplace, particularly in the Asian region where the company has its roots.
However, investors should note that the modest size of the capital raise may limit the scope and speed of these initiatives. The company will need to be highly efficient with capital deployment to compete effectively against well-funded incumbents. The choice of Nasdaq Global Market listing, despite the smaller offering size, suggests confidence in meeting higher listing standards and corporate governance requirements, which could help build credibility with international clients and talent.
The timing of this IPO, amidst market volatility and tech sector uncertainties, underscores both opportunities and challenges. While the successful raise provides essential growth capital, the company's ability to execute its expansion plans efficiently will be important for long-term success in the increasingly competitive cloud-sourcing market.
Proceeds from the Offering will be used for business development and marketing, research and development, exploration of new product and service offerings and the creation of an online global design center, and general corporate purposes and working capital.
Cathay Securities, Inc. acted as the representative of the underwriters, with Revere Securities LLC acting as co-underwriter (collectively, the "Underwriters") for the Offering. VCL Law LLP served as counsel to the Company. Winston & Strawn LLP served as counsel to the Underwriters.
The Offering was conducted pursuant to the Company's Registration Statement on Form F-1, as amended (File No. 333-269657) (the "Registration Statement"), previously filed with and subsequently declared effective by the
This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 EPWK HOLDINGS LTD.
The Company connects businesses with outstanding talent through an innovative and efficient integrated crowdsourcing platform, providing creative transaction services for small and medium-sized enterprises and suppliers. The Company was founded by Huang Guohua, former chief reporter of Fujian Daily Press Group, and conducts its operations through its subsidiaries and contractual arrangements with the variable interest entity in
Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update 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 in its other filings with the SEC.
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SOURCE EPWK HOLDINGS LTD.
FAQ
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