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Neo-Concept International Group Holdings successfully closed its initial public offering (IPO) of 2,320,000 ordinary shares at $4.00 per share, generating $9.3 million in gross proceeds. The company's shares began trading on The Nasdaq Capital Market under the ticker symbol 'NCI'. Revere Securities and R.F. Lafferty & Co., Inc. served as Joint Book-Running Managers for the Offering, with Dominari Securities as Co-manager. The Offering was conducted on a firm commitment basis, and the registration statement on Form F-1 was declared effective by the SEC on April 1, 2024.
Neo-Concept International Group Holdings ha completato con successo la propria offerta pubblica iniziale (IPO) di 2.320.000 azioni ordinarie al prezzo di 4,00 dollari per azione, generando un ricavo lordo di 9,3 milioni di dollari. Le azioni della società hanno iniziato a essere quotate sul Nasdaq Capital Market con il simbolo 'NCI'. Revere Securities e R.F. Lafferty & Co., Inc. hanno agito come gestori principali congiunti per l'offerta, con Dominari Securities in veste di co-gestore. L'offerta è stata realizzata con un impegno fermo, e la dichiarazione di registrazione sul modulo F-1 è stata dichiarata efficace dalla SEC il 1 aprile 2024.
Neo-Concept International Group Holdings cerró exitosamente su oferta pública inicial (OPI) de 2.320.000 acciones ordinarias a un precio de $4.00 cada una, generando ingresos brutos de $9.3 millones. Las acciones de la compañía comenzaron a cotizarse en el Mercado de Capitales Nasdaq bajo el símbolo 'NCI'. Revere Securities y R.F. Lafferty & Co., Inc. actuaron como Gerentes de Libro Conjunto para la Oferta, con Dominari Securities como Co-gestor. La Oferta se realizó bajo un compromiso firme, y la declaración de registro en el Formulario F-1 fue declarada efectiva por la SEC el 1 de abril de 2024.
Neo-Concept International Group Holdings는 2,320,000주의 보통주를 주당 $4.00에 청약한 초기 공개 주식(IPO)을 성공적으로 마쳤으며, 이로써 총 9.3백만 달러의 총수익을 창출했습니다. 회사의 주식은 'NCI'라는 티커 심볼로 Nasdaq Capital Market에서 거래를 시작했습니다. Revere Securities와 R.F. Lafferty & Co., Inc.가 공동 주관사로서, Dominari Securities가 공동 관리자로서 제공되었습니다. 이 오퍼링은 확약된 약속에 따라 진행되었으며, F-1 형식의 등록 선언은 2024년 4월 1일에 SEC에 의해 효력을 발휘하였습니다.
Neo-Concept International Group Holdings a clôturé avec succès son introduction en bourse (IPO) de 2 320 000 actions ordinaires à 4,00 $ l'action, générant un produit brut de 9,3 millions de dollars. Les actions de la société ont commencé à être négociées sur le Nasdaq Capital Market sous le symbole 'NCI'. Revere Securities et R.F. Lafferty & Co., Inc. ont servi de Co-directeurs de l'offre, avec Dominari Securities comme Co-gestionnaire. L'offre a été réalisée sur une base d'engagement ferme, et la déclaration d'enregistrement sur le formulaire F-1 a été déclarée effective par la SEC le 1er avril 2024.
Neo-Concept International Group Holdings hat erfolgreich sein Initial Public Offering (IPO) von 2.320.000 Stammaktien zu einem Preis von $4.00 pro Aktie abgeschlossen und dadurch Bruttoerlöse von $9.3 Millionen erzielt. Die Aktien des Unternehmens begannen am Nasdaq Capital Market unter dem Tickersymbol 'NCI' zu handeln. Revere Securities und R.F. Lafferty & Co., Inc. fungierten als Joint Book-Running Manager für das Angebot, mit Dominari Securities als Co-Manager. Das Angebot wurde auf einer festen Verpflichtungsbasis durchgeführt, und die Registrierungserklärung auf Formular F-1 wurde am 1. April 2024 von der SEC für wirksam erklärt.
Positive
Successful completion of the initial public offering (IPO) with 2,320,000 ordinary shares sold at $4.00 per share.
Gross proceeds of $9.3 million generated from the Offering.
Shares of Neo-Concept International Group Holdings began trading on The Nasdaq Capital Market under the ticker symbol 'NCI'.
Revere Securities and R.F. Lafferty & Co., Inc. acted as Joint Book-Running Managers for the Offering.
Dominari Securities served as Co-manager for the IPO.
The Offering was conducted on a firm commitment basis.
Registration statement on Form F-1 was declared effective by the SEC on April 1, 2024.
Negative
None.
Insights
With Neo-Concept's IPO closing at an offer price of $4.00 per share, raising a gross of $9.3 million, attention should be directed to the company's valuation and the use of raised capital. The capital influx provides Neo-Concept the means to bolster their apparel supply chain services. Considering the IPO is on the small-end for Nasdaq listings, it is essential to observe subsequent quarterly reports for signs of strategic growth and ROI.
The NASDAQ listing under the ticker 'NCI' signals increased visibility and credibility, potentially drawing more institutional investors. However, the effectiveness of the underwriters, Revere Securities LLC and R.F. Lafferty & Co., in generating investor interest can be crucial. Long-term success relies on market reception and operational performance post-IPO, especially in the competitive apparel industry.
Investors must note the regulatory compliance via the filing of a Form F-1, which was declared effective by the SEC. The adherence to securities laws and the role of legal counsel for both Neo-Concept and the underwriters could have a substantial influence on investor confidence, ensuring that the IPO was conducted transparently and lawfully.
Hong Kong, April 25, 2024 (GLOBE NEWSWIRE) -- Neo-Concept International Group Holdings Limited (Nasdaq: NCI) (the “Company” or “Neo-Concept”), a one-stop apparel solution services provider which offers a full suite of services in the apparel supply chain, today announced the closing of its initial public offering (the “Offering”) of 2,320,000 ordinary shares at a price of $4.00 per share.
The aggregate gross proceeds from the Offering were $9.3 million, before deducting underwriting discounts and other related expenses. The ordinary shares began trading on The Nasdaq Capital Market on April 23, 2024 under the ticker symbol “NCI.”
The Offering was conducted on a firm commitment basis. Revere Securities LLC and R.F. Lafferty & Co., Inc. are Joint Book-Running Managers, with Dominari Securities LLC acting as Co-manager, for the Offering (the “Underwriters”). Loeb & Loeb LLP acted as counsel to the Company and Hunter Taubman Fischer & Li LLC acted as counsel to the Underwriters.
A registration statement on Form F-1 relating to the Offering has been filed with the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-275242) and was declared effective by the SEC on April 1, 2024. The Offering was made only by means of a prospectus. A final prospectus relating to the Offering was filed with the SEC on April 24, 2024 and may be obtained from Revere Securities LLC, 560 Lexington Avenue, 16th Floor, New York, NY 10022, by phone at +212-688-2350 or by email at contact@reveresecurities.com. In addition, a copy of the final prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s 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 such state or jurisdiction.
About Neo-Concept International Group Holdings Limited
Neo-Concept International Group Holdings Limited is a one-stop apparel solution services provider. It offers a full suite of services in the apparel supply chain, including market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management serving customers located in the European and North American markets.
It is committed to reducing its environmental impact through recycling, clean processes, traceable sourcing and other eco-friendly practices. It also pushes for sustainable solutions to fulfil its customers’ needs throughout garment production. For more information, visit the Company’s website at http://www.neo-ig.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. 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 identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” 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, which are available for review at www.sec.gov.
What was the price per share in Neo-Concept International Group Holdings 's initial public offering?
The price per share in Neo-Concept International Group Holdings 's initial public offering was $4.00.
How many ordinary shares were sold in Neo-Concept International Group Holdings 's initial public offering?
Neo-Concept International Group Holdings sold 2,320,000 ordinary shares in the initial public offering.
When did Neo-Concept International Group Holdings 's shares start trading on The Nasdaq Capital Market?
Neo-Concept International Group Holdings 's shares started trading on The Nasdaq Capital Market on April 23, 2024.
Who were the Joint Book-Running Managers for Neo-Concept International Group Holdings 's initial public offering?
Revere Securities and R.F. Lafferty & Co., Inc. served as Joint Book-Running Managers for Neo-Concept International Group Holdings 's initial public offering.
What was the gross proceeds generated from Neo-Concept International Group Holdings 's initial public offering?
The gross proceeds generated from Neo-Concept International Group Holdings 's initial public offering were $9.3 million.
Which form was filed with the U.S. Securities and Exchange Commission relating to Neo-Concept International Group Holdings 's initial public offering?
A registration statement on Form F-1 was filed with the U.S. Securities and Exchange Commission relating to Neo-Concept International Group Holdings 's initial public offering.
Who acted as the Co-manager for Neo-Concept International Group Holdings 's initial public offering?
Dominari Securities acted as the Co-manager for Neo-Concept International Group Holdings 's initial public offering.
Neo-Concept International Group Holdings Limited Ordinary Shares
