HomesToLife Ltd Announces Closing of Initial Public Offering

Rhea-AI Summary

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.

Positive

• Successfully raised $5.75 million in gross proceeds from IPO
• Full exercise of underwriter's option to purchase additional shares
• Listing on NASDAQ Stock Market, potentially increasing visibility and liquidity

Negative

• Potential dilution of existing shareholders due to new share issuance

Insights

Financial Analyst

HomesToLife 's successful IPO marks a significant milestone for the company, raising $5.75 million in gross proceeds. The full exercise of the underwriter's option to purchase additional shares indicates strong initial demand. Pricing at $4.00 per share, the company sold 1,437,500 ordinary shares, including the 187,500 from the overallotment option.

The NASDAQ listing enhances HTLM's visibility and potentially improves its access to capital markets. However, investors should note that as a newly public company, HTLM may face challenges in meeting public market expectations and regulatory requirements. The relatively small offering size suggests the company is in its early growth stages, which could imply higher risk but also potential for expansion.

It's important to review the prospectus for detailed financial information and risk factors before making investment decisions. The involvement of US Tiger Securities as the sole book-running manager may impact the stock's initial trading dynamics and analyst coverage.

Legal Expert

The successful completion of HomesToLife 's IPO demonstrates compliance with complex SEC regulations and securities laws. The company's Registration Statement on Form F-1 (File No. 333-281693) received SEC effectiveness on September 30, 2024, a critical step in the IPO process. The involvement of reputable law firms Loeb & Loeb LLP and Hunter Taubman Fischer & Li suggests thorough due diligence and proper legal structuring.

Investors should note the standard legal disclaimers in the press release, indicating that this announcement does not constitute an offer to sell or solicitation of an offer to buy securities. This is a important legal protection for the company. The mention of the prospectus availability through EDGAR ensures transparency and compliance with SEC disclosure requirements.

As HTLM transitions to a public company, it will face increased regulatory scrutiny and reporting obligations, which could impact operational focus and costs.

SINGAPORE, Oct. 02, 2024 (GLOBE NEWSWIRE) -- HomesToLife Ltd. (“HTLM” or the “Company”) today announced the closing of its previously announced initial public offering of an aggregate of 1,437,500 ordinary shares (the “Offering”) at a price of $4.00 per share (the “Offering Price”) to the public, including 187,500 shares sold upon full exercise of the underwriter’s option to purchase additional shares, for a total of $5.75 million of gross proceeds to the Company, before deducting underwriting discounts and estimated offering expenses. The shares began trading on the NASDAQ Stock Market LLC on October 1, 2024, under the symbol "HTLM."

US Tiger Securities, Inc. (“Tiger”) was the sole Book-Running manager for the Offering. Loeb & Loeb LLP acted as U.S. legal counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as U.S. legal counsel to Tiger.

The Offering was conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333-281693) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on September 30, 2024. The Offering was made only by means of a prospectus. You may get these documents for free by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Tiger at 437 Madison Avenue, 27th Floor, New York, New York 10022, or by telephone at +1 646-978-5188.

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 HomesToLife Ltd.

The Company’s wholly owned subsidiary and operating company, HomesToLife Singapore, is one of the leading home furniture retailers that offers and sells customized furniture solutions in Singapore. As of October 2024, it has six retail store locations. It has helped homeowners create living spaces that reflect their individuality since 2014. Its product offerings include leather and fabric upholstered furniture, case goods and accessories, and offers a one-stop shop for retail customers to furnish their homes. “HomesToLife” has a long-standing pledge to offer fair prices, great value, consistent and reliable quality, and on-time delivery to its customers. The Company’s website, www.homestolife.com, offers consumers a seamless shopping experience online and post-sales customer service support.

FORWARD-LOOKING STATEMENTS

Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. 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 “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. 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.

Contacts

HomesToLife Ltd. Contact:
6 Raffles Boulevard, #02-01/02
Marina Square, Singapore 039594
Email: Investor@homestolife.com

Underwriter Inquiries:
US Tiger Securities, Inc.
437 Madison Avenue, FL 27
New York, NY 10022
Email: ECM@ustigersecurities.com

Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5^th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com

FAQ

How much did HomesToLife (HTLM) raise in its IPO?

HomesToLife (HTLM) raised $5.75 million in gross proceeds from its initial public offering.

What was the price per share for HomesToLife 's (HTLM) IPO?

The offering price for HomesToLife 's (HTLM) IPO was $4.00 per share.

When did HomesToLife (HTLM) shares begin trading on NASDAQ?

HomesToLife (HTLM) shares began trading on the NASDAQ Stock Market on October 1, 2024.

Who was the underwriter for HomesToLife 's (HTLM) IPO?

US Tiger Securities, Inc. was the sole Book-Running manager for HomesToLife 's (HTLM) IPO.