Ohmyhome Announces Pricing of Upsized $4.8 Million Public Offering of Ordinary Shares
- None.
- None.
Insights
The public offering of Ohmyhome Ltd. represents a strategic move to raise capital, potentially for growth initiatives, debt reduction, or other corporate purposes. The pricing of the offering at $1.35 per share and the expected gross proceeds of approximately $4.8 million suggest a significant infusion of funds relative to the size of the company. This move may signal to investors the company's intention to invest in its technology platform, expand services, or perhaps enter new markets.
It is important to note that the involvement of Maxim Group LLC as the sole placement agent indicates a level of credibility and support in the investment banking community. However, investors should be aware of the dilutive effect of the new shares on existing shareholders and consider the current market valuation of Ohmyhome in relation to its sector peers. The market's reception to this offering could also be indicative of investor confidence in the property technology sector and Ohmyhome's business model.
The property technology, or 'proptech', sector is experiencing significant growth and transformation, driven by technological advancements and changing consumer behaviors. Ohmyhome's positioning as a one-stop-shop platform suggests a competitive edge in providing comprehensive services. The capital raised could enable Ohmyhome to capitalize on market trends, such as the increasing demand for digital real estate transactions and property management solutions.
However, it is essential to understand the competitive landscape, including the presence of larger players and potential market disruptors. The success of Ohmyhome's public offering and subsequent deployment of capital will depend on the company's ability to innovate and scale effectively in a highly competitive environment.
The offering's compliance with SEC regulations, including the effective registration statement on Form F-1, provides a layer of investor protection and regulatory oversight. The availability of a final prospectus will be crucial for investors to make informed decisions, as it will contain detailed information about the offering, the company's financials and risk factors.
Investors should also be cognizant of the legal disclaimer that the press release does not constitute an offer to sell or a solicitation of an offer to buy. This is a standard legal precaution to prevent the company and its agents from potential legal liabilities associated with the offering, especially in jurisdictions with strict securities laws.
Singapore, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Ohmyhome Ltd. (NASDAQ: OMH, “Ohmyhome”), a one-stop-shop property technology platform providing end-to-end property solutions and services to buy, sell, rent, and renovate homes, as well as property management services for condominiums in Singapore, today announced the pricing of its upsized public offering of 3,555,555 ordinary shares at a public offering price of
Gross proceeds, before deducting placement agent fees and other offering expenses, are expected to be approximately
Maxim Group LLC is acting as sole placement agent in connection with this offering.
The securities described above are being offered pursuant to a registration statement on Form F-1, as amended (File No. 333-275987) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (the "SEC") on February 13, 2024. The offering is being made only by means of a prospectus which is a part of the Registration Statement. A preliminary prospectus relating to the offering has been filed with the SEC. Copies of the final prospectus relating to this offering, when available, will be filed with the SEC and may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Ohmyhome
Ohmyhome is a one-stop-shop property technology platform in Singapore that provides end-to-end property solutions and services to buy, sell, rent, and renovate homes, as well as property management services for condominiums in Singapore. Since its launch in 2016, Ohmyhome has transacted over 14,500 properties, and has over 5,800 units under management as of June 30, 2023. It is also the highest-rated property transaction platform, with more than 8,000 genuine reviews, and an average rating of 4.9 out of 5 stars.
Ohmyhome is dedicated to bringing speed, ease, and reliability to property-related services and to becoming the most trusted and comprehensive property solution for everyone.
For more information, visit: https://ohmyhome.com/en-sg/
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to satisfy the closing conditions related to the offering, our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement.
Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
Contact
ir@ohmyhome.com
FAQ
What is the pricing of Ohmyhome Ltd.'s public offering?
How many shares are being offered in Ohmyhome Ltd.'s public offering?
When is the expected closing date of Ohmyhome Ltd.'s public offering?
Who is the sole placement agent for Ohmyhome Ltd.'s public offering?
Under which registration statement are the securities being offered by Ohmyhome Ltd.?
