WallachBeth Capital Announces Closing Of FBS Global LTD Initial Public Offering
FBS Global (NASDAQ: FBGL), a Singapore-based green building contractor, has completed its initial public offering, raising $10.125 million in gross proceeds. The company offered 2,250,000 ordinary shares at $4.50 per share. Trading began on the Nasdaq Capital Market on February 6, 2025, under the symbol 'FBGL'.
The company granted underwriters a 45-day option to purchase up to 337,500 additional shares (15% of the offering) at the public offering price. WallachBeth Capital serves as the sole book-running manager, with Revere Securities as co-manager. The net proceeds will fund business expansion, research and development in green building materials, potential strategic partnerships, and general corporate purposes.
FBS Global (NASDAQ: FBGL), un'appaltatrice di costruzioni verdi con sede a Singapore, ha completato la sua offerta pubblica iniziale, raccogliendo 10,125 milioni di dollari in proventi lordi. L'azienda ha offerto 2.250.000 azioni ordinarie a 4,50 dollari per azione. La negoziazione è iniziata sul Nasdaq Capital Market il 6 febbraio 2025, sotto il simbolo 'FBGL'.
L'azienda ha concesso agli underwriter un'opzione di 45 giorni per acquistare fino a 337.500 azioni aggiuntive (15% dell'offerta) al prezzo di offerta pubblica. WallachBeth Capital funge da unico book-running manager, con Revere Securities in qualità di co-manager. I proventi netti finanzieranno l'espansione aziendale, la ricerca e lo sviluppo di materiali da costruzione verdi, potenziali partnership strategiche e scopi aziendali generali.
FBS Global (NASDAQ: FBGL), un contratista de construcción ecológica con sede en Singapur, ha completado su oferta pública inicial, recaudando 10,125 millones de dólares en ingresos brutos. La empresa ofreció 2,250,000 acciones ordinarias a 4.50 dólares por acción. La negociación comenzó en el Nasdaq Capital Market el 6 de febrero de 2025, bajo el símbolo 'FBGL'.
La empresa concedió a los suscriptores una opción de 45 días para comprar hasta 337,500 acciones adicionales (15% de la oferta) al precio de oferta pública. WallachBeth Capital actúa como único gerente de libro, con Revere Securities como co-gerente. Los ingresos netos se destinarán a la expansión del negocio, investigación y desarrollo en materiales de construcción ecológica, posibles asociaciones estratégicas y fines corporativos generales.
FBS 글로벌 (NASDAQ: FBGL), 싱가포르에 본사를 둔 친환경 건설 계약업체가 공모를 완료하여 $10.125 million의 조달금을 확보했습니다. 이 회사는 2,250,000 주식을 $4.50 per share에 발행했습니다. 거래는 2025년 2월 6일부터 'FBGL' 기호 아래 나스닥 자본 시장에서 시작되었습니다.
회사는 인수인에게 공모가의 15%인 337,500 주식 추가 구매 옵션을 45일 동안 부여했습니다. WallachBeth Capital은 단독 주관 매니저로, Revere Securities는 공동 관리자로 활동합니다. 순수익은 사업 확장, 친환경 건축 자재 연구 개발, 잠재적 전략적 파트너십 및 일반 기업 목적에 사용될 것입니다.
FBS Global (NASDAQ: FBGL), un entrepreneur en bâtiment écologique basé à Singapour, a terminé son introduction en bourse, levant 10,125 millions de dollars de recettes brutes. L'entreprise a proposé 2,250,000 actions ordinaires à 4,50 dollars par action. Les échanges ont débuté sur le Nasdaq Capital Market le 6 février 2025, sous le symbole 'FBGL'.
L'entreprise a accordé aux souscripteurs une option de 45 jours pour acheter jusqu'à 337,500 actions supplémentaires (15% de l'offre) au prix de l'offre publique. WallachBeth Capital agit en tant que gestionnaire principal, avec Revere Securities comme co-gestionnaire. Les produits nets serviront à financer l'expansion de l'entreprise, la recherche et le développement de matériaux de construction écologiques, des partenariats stratégiques potentiels et des fins corporatives générales.
FBS Global (NASDAQ: FBGL), ein in Singapur ansässiger Auftragnehmer für nachhaltiges Bauen, hat sein Initial Public Offering abgeschlossen und 10,125 Millionen Dollar an Bruttoeinnahmen erzielt. Das Unternehmen bot 2.250.000 Stammaktien zu einem Preis von 4,50 Dollar pro Aktie an. Der Handel begann am 6. Februar 2025 unter dem Symbol 'FBGL' am Nasdaq Capital Market.
Das Unternehmen gewährte den Underwritern eine 45-tägige Option, bis zu 337.500 zusätzliche Aktien (15% des Angebots) zum öffentlichen Angebotspreis zu erwerben. WallachBeth Capital fungiert als alleiniger Buchführer, während Revere Securities als Co-Manager tätig ist. Die Nettoprofte werden zur Finanzierung des Geschäftswachstums, der Forschung und Entwicklung von nachhaltigen Baumaterialien, potenziellen strategischen Partnerschaften und allgemeinen Unternehmenszwecken verwendet.
- Successfully raised $10.125 million in gross proceeds through IPO
- Listed on Nasdaq Capital Market, providing increased visibility and access to capital
- Focused on growing green building sector with sustainable materials
- Potential dilution if underwriters exercise their option for additional 337,500 shares
Insights
The closing of FBS Global's IPO reveals several noteworthy aspects for investors. The
The use of proceeds, focused on business expansion and R&D in green building materials, indicates a strategic emphasis on organic growth rather than immediate acquisitions. This approach, while potentially slower, may prove more sustainable in the specialized green construction market. The selection of WallachBeth Capital as sole book-runner, a mid-tier investment bank, aligns with the offering's size but may impact post-IPO research coverage and institutional support.
Critical considerations for investors include:
- The 45-day overallotment option of 337,500 shares provides a stabilization mechanism but represents only
15% of the base offering - The company's Singapore base offers access to Asia's growing sustainable construction market but may present regulatory and operational complexity for U.S. investors
- The timing amid challenging market conditions for small-cap IPOs suggests confidence in the company's growth narrative, though execution will be crucial
The ordinary shares began trading on the Nasdaq Capital Market on February 6 , 2025, under the symbol "FBGL." The Company intends to use the net proceeds for business expansion efforts, research and development regarding green building materials, potential strategic partnerships and for other general corporate purposes.
The Company has granted a 45-day option to the underwriters to purchase up to 337,500 additional ordinary shares, representing
WallachBeth Capital LLC is acting as the sole book-running manager of the Offering, and Revere Securities LLC is acting as the co-manager to the Offering. TroyGould PC is acting as
The Offering was conducted pursuant to the Company's registration statement on Form F-1, as amended (File No. 333-283619) which was filed with the United States Securities and Exchange Commission (the "SEC") and was declared effective by the SEC on February 5, 2025. The Offering was made by means of a prospectus, forming part of the registration statement. Copies of the final prospectus related to the Offering may be obtained, when available, from WallachBeth Capital LLC, Harborside Financial Center Plaza 5, 185 Hudson Street, Ste 1410,
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 WallachBeth Capital LLC
WallachBeth Capital offers a robust range of capital markets and investment banking services to the healthcare community, connecting corporate clients with leading institutions, creating value for both issuers and investors. The firm's experience includes initial public offerings, follow-on issues, PIPE offerings, and private transactions and ATM's.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and FBS Global Limited specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE WallachBeth Capital LLC
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