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HomesToLife (HTLM) reported financial results for H1 2024, showing a 21% decrease in net revenue to $1.99M compared to $2.53M in H1 2023. The company experienced a decline in gross profit margin to 66.1% from 68.8%, mainly due to increased freight costs. Operating expenses rose by 8.2% to $138,473, primarily due to IPO-related audit fees. The company reported a net loss of $452,438 ($0.03 per share) compared to net income of $74,986 ($0.01 per share) in H1 2023. Cash position decreased to $544,294 from $1.37M at end-2023. The decline was attributed to rising inflation and global economic slowdown affecting Singapore's furniture market.
HomesToLife (NASDAQ: HTLM) has successfully closed its initial public offering (IPO) of 1,437,500 ordinary shares at $4.00 per share, raising $5.75 million in gross proceeds. This includes the full exercise of the underwriter's option to purchase an additional 187,500 shares. Trading of HTLM shares on the NASDAQ Stock Market commenced on October 1, 2024.
US Tiger Securities, Inc. served as the sole Book-Running manager for the offering. The IPO was conducted under the Company's Registration Statement on Form F-1 (File No. 333-281693), which was declared effective by the SEC on September 30, 2024. Interested parties can access the prospectus through the SEC website or by contacting Tiger Securities directly.
HomesToLife (HTLM) has announced the pricing of its initial public offering (IPO) of 1,250,000 ordinary shares at $4.00 per share. The company expects to raise $5 million in gross proceeds, before deducting underwriting costs and expenses. HTLM has also granted underwriters a 45-day option to purchase up to an additional 187,500 shares at the IPO price.
Shares are set to begin trading on the Nasdaq Capital Market under the ticker symbol 'HTLM' on October 1, 2024, with the offering expected to close on October 2, 2024. US Tiger Securities, Inc. is serving as the sole book-running manager for the IPO. The offering is being conducted pursuant to HTLM's Registration Statement on Form F-1, which was declared effective by the SEC on September 30, 2024.
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