Luda Technology Group Limited Announces Pricing of $10 Million Initial Public Offering
Luda Technology Group (LUD), a manufacturer of stainless and carbon steel flanges with 20+ years of operation, has announced the pricing of its Initial Public Offering (IPO). The company is offering 2,500,000 ordinary shares at $4.00 per share, expecting to raise $10 million.
Trading will commence on the NYSE American under symbol 'LUD' on February 27, 2025. The offering includes a 45-day over-allotment option for an additional 375,000 shares, potentially increasing gross proceeds to $11.5 million before deductions.
Revere Securities serves as primary underwriter, with Pacific Century Securities as co-manager. The offering is expected to close around February 28, 2025, subject to customary conditions.
Luda Technology Group (LUD), un produttore di flange in acciaio inox e carbonio con oltre 20 anni di esperienza, ha annunciato il prezzo della sua Offerta Pubblica Iniziale (IPO). L'azienda offre 2.500.000 azioni ordinarie a 4,00 $ per azione, con l'aspettativa di raccogliere 10 milioni di dollari.
Le contrattazioni inizieranno il NYSE American con il simbolo 'LUD' il 27 febbraio 2025. L'offerta include un'opzione di sovrallocazione di 45 giorni per ulteriori 375.000 azioni, che potrebbe aumentare i proventi lordi a 11,5 milioni di dollari prima delle deduzioni.
Revere Securities funge da principale sottoscrittore, con Pacific Century Securities come co-manager. L'offerta dovrebbe chiudersi intorno al 28 febbraio 2025, soggetta a condizioni consuete.
Luda Technology Group (LUD), un fabricante de bridas de acero inoxidable y carbono con más de 20 años de operación, ha anunciado el precio de su Oferta Pública Inicial (IPO). La empresa está ofreciendo 2,500,000 acciones ordinarias a $4.00 por acción, con la expectativa de recaudar 10 millones de dólares.
Las operaciones comenzarán en el NYSE American bajo el símbolo 'LUD' el 27 de febrero de 2025. La oferta incluye una opción de sobreasignación de 45 días para otras 375,000 acciones, lo que podría aumentar los ingresos brutos a 11.5 millones de dólares antes de deducciones.
Revere Securities actúa como suscriptor principal, con Pacific Century Securities como coadministrador. Se espera que la oferta cierre alrededor del 28 de febrero de 2025, sujeto a condiciones habituales.
Luda Technology Group (LUD), 20년 이상의 운영 경험을 가진 스테인리스 및 탄소강 플랜지 제조업체,가 기업공개(IPO) 가격을 발표했습니다. 이 회사는 2,500,000 주식을 주당 4.00 달러에 제공하며, 1천만 달러를 모금할 것으로 예상하고 있습니다.
거래는 2025년 2월 27일 NYSE American에서 'LUD' 기호로 시작됩니다. 이 오퍼링에는 추가 375,000 주식에 대한 45일 초과 할당 옵션이 포함되어 있으며, 공제 전 총 수익을 1,150만 달러로 증가시킬 수 있습니다.
Revere Securities는 주요 인수자로, Pacific Century Securities는 공동 관리자로 활동합니다. 이 오퍼링은 통상적인 조건에 따라 2025년 2월 28일경에 마감될 것으로 예상됩니다.
Luda Technology Group (LUD), un fabricant de brides en acier inoxydable et en acier au carbone avec plus de 20 ans d'expérience, a annoncé le prix de son Introduction en Bourse (IPO). L'entreprise propose 2.500.000 actions ordinaires à 4,00 $ par action, s'attendant à lever 10 millions de dollars.
Les échanges commenceront sur le NYSE American sous le symbole 'LUD' le 27 février 2025. L'offre comprend une option de surallocation de 45 jours pour 375.000 actions supplémentaires, ce qui pourrait augmenter les produits bruts à 11,5 millions de dollars avant déductions.
Revere Securities agit en tant que principal souscripteur, avec Pacific Century Securities en tant que co-gestionnaire. La clôture de l'offre est prévue autour du 28 février 2025, sous réserve des conditions habituelles.
Luda Technology Group (LUD), ein Hersteller von Flanschen aus Edelstahl und Kohlenstoffstahl mit über 20 Jahren Erfahrung, hat die Preise für sein Initial Public Offering (IPO) bekannt gegeben. Das Unternehmen bietet 2.500.000 Stammaktien zu einem Preis von 4,00 $ pro Aktie an und erwartet, 10 Millionen Dollar zu sammeln.
Der Handel beginnt am NYSE American unter dem Symbol 'LUD' am 27. Februar 2025. Das Angebot umfasst eine 45-tägige Überplatzierungsoption für zusätzliche 375.000 Aktien, die die Bruttoeinnahmen vor Abzügen auf 11,5 Millionen Dollar erhöhen könnten.
Revere Securities fungiert als Hauptunterwriter, während Pacific Century Securities als Co-Manager tätig ist. Der Abschluss des Angebots wird voraussichtlich um den 28. Februar 2025 erfolgen, vorbehaltlich üblicher Bedingungen.
- IPO to raise $10M with potential additional $1.5M from over-allotment
- 20+ years operational history in steel manufacturing
- NYSE American listing provides enhanced visibility and liquidity
- 100% share dilution as all offered shares are new company issuance
- Small IPO size may limit institutional investor interest
Insights
Luda Technology Group 's IPO pricing at
The modest offering size suggests a conservative market approach and likely indicates a relatively small overall valuation. This positioning as a small-cap industrial stock on NYSE American (rather than the main NYSE exchange) may impact trading liquidity and institutional coverage. The timing is particularly notable - after 20 years of private operations, LUD's decision to access public markets now could signal expansion plans requiring additional capital, succession planning strategies, or a response to changing industry dynamics.
While the press release doesn't specify the use of proceeds, companies in this sector typically pursue public funding for manufacturing capacity expansion, technology upgrades, debt reduction, or strategic acquisitions. The involvement of multiple legal firms across different jurisdictions (U.S., Hong Kong, PRC, and Cayman Islands) highlights the complex regulatory landscape LUD must navigate as a cross-border operation.
For context, the steel flanges and fittings market serves critical infrastructure industries including oil and gas, chemical processing, and construction. Market participants should monitor how LUD plans to differentiate itself in this established industry and whether its public status will enhance its competitive positioning against both regional and global competitors.
Hong Kong, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Luda Technology Group Limited (“LUD” or the “Company”), a leading manufacturer and trader of stainless steel and carbon steel flanges and fittings products with an operation history of over 20 years, today announced the pricing of its firm commitment initial public offering of an aggregate 2,500,000 ordinary shares (the “Offering”). The Offering is priced at
The shares are expected to begin trading on the NYSE American under the ticker symbol “LUD” on February 27, 2025. The Offering is expected to close on or about February 28, 2025, subject to the satisfaction of customary closing conditions.
The Company has granted the underwriter an option, exercisable for 45 days from the closing of this Offering to purchase up to an additional 375,000 ordinary shares at the Offering Price, representing
Assuming that the Over-allotment is exercised, the Company is expected to receive gross proceeds amounting to
Revere Securities LLC (“Revere”), a full-service broker/dealer, acted as the primary underwriter for the Offering. Pacific Century Securities, LLC (“PCS”), a full-service broker/dealer, acted as the co-manager for the Offering. Loeb & Loeb LLP, CLKW Lawyers LLP in association with Michael Li & Co., China Commercial Law Firm and Conyers Dill & Pearman are acting as U.S., Hong Kong, PRC and Cayman Islands legal counsels to the Company, respectively. ZH CPA, LLC is acting as the reporting accountant of the Company. VCL Law LLP is acting as U.S. legal counsel to Revere and PCS for the Offering.
The Offering is being conducted pursuant to the Company’s registration statement on Form F-1 (File No. 333-283680), as amended, previously filed with, and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on February 26, 2025. The Offering is being made only by means of a prospectus, forming part of the registration statement. 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. Copies of the final prospectus related to the Offering may be obtained, when available, from Revere Securities LLC, 560 Lexington Ave 16th floor, New York, NY, 10022, by phone at +1 212 688 2350 or by email at syndicate@reveresecurities.com or Pacific Century Securities, LLC, 60-20 Woodside Avenue Ste 211, Queens, NY 11377, by phone at +1 212 970 8868 or by email at info@pcsecurities.us In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC’s website at www.sec.gov.
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 any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or 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 other jurisdiction.
About Luda Technology Group Limited
We are a manufacturer and trader of stainless steel and carbon steel flanges and fittings products. Our history began with Luda Development Limited, which was incorporated in Hong Kong in 2004 and is principally engaged in the trading of steel flanges and fittings. In 2005, the Company’s business expanded further upstream when Luda (Taian) Industrial Company Limited was set up to commence the manufacturing of flanges and fittings with self-owned factory in China. We have established an operation history of over 20 years. We are principally engaged in (i) the manufacture and sale of stainless steel and carbon steel flanges and fittings products, and (ii) trading of steel pipes, valves, and other steel tubing products. We are headquartered in Hong Kong with manufacturing base in Taian City, Shandong Province of the PRC. Our sales network comprises customers from China, South America, Australia, Europe, Asia (excluding China) and North America and our customers comprise manufacturers and traders from the chemical, petrochemical, maritime and manufacturing industries. For more information, please visit https://www.ludahk.com/en
FORWARD-LOOKING STATEMENTS
Certain statements contained 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. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Luda Technology Group 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.
For more information, please contact:
Luda Technology Group Limited Investor Relations Contact:
Unit H, 13/F, Kaiser Estate Phase 2,
47-53 Man Yue Street, Hung Hom, Kowloon,
Hong Kong SAR, China
Phone: (+852) 2994 8774
Email: ir@ludahk.com
Underwriters Inquiries:
Revere Securities LLC
560 Lexington Ave 16th floor, New York, NY, 10022
Phone: +1 212 688 2350
Email: syndicate@reveresecurities.com
Pacific Century Securities, LLC
Francis Ong, CEO – Investment Banking
60-20 Woodside Avenue Ste 211, Queens, NY 11377
Phone: +1 212 970 8868
Email: info@pcsecurities.us
FAQ
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