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Oriental Rise Holding (NASDAQ: ORIS) announced that US Tiger Securities has fully exercised its over-allotment option, purchasing an additional 262,500 ordinary shares at $4.00 per share. This completes the company's IPO with a total of 2,012,500 shares issued, raising gross proceeds of $8.05 million before underwriting discounts and expenses. US Tiger Securities acted as the sole book runner, with The Crone Law Group and VCL Law LLP serving as legal counsel to the company and underwriter, respectively.
Oriental Rise Holding (NasdaqCM: ORIS), an integrated supplier of tea products in mainland China, has closed its initial public offering of 1,750,000 ordinary shares at $4 per share. The company's shares began trading on the Nasdaq Capital Market on October 17, 2024. The gross proceeds from the offering totaled $7 million, before deducting underwriting discounts and other expenses.
US Tiger Securities, Inc. acted as the sole book runner for the offering, which was conducted on a firm commitment basis. The company has granted the underwriter a 45-day option to purchase up to an additional 262,500 ordinary shares at the public offering price, less underwriting discounts and commissions.
Oriental Rise Holding (NasdaqCM: ORIS), an integrated tea products supplier in mainland China, has announced the pricing of its initial public offering (IPO). The company is offering 1,750,000 ordinary shares at $4 per share, aiming to raise $7 million in gross proceeds. Trading is expected to commence on October 17, 2024, on the Nasdaq Capital Market under the ticker symbol 'ORIS'.
The underwriter has a 45-day option to purchase up to an additional 262,500 shares. The IPO is set to close on October 18, 2024. Proceeds will be used for settling tea garden acquisition rights, constructing a new production plant, acquiring machinery, and general corporate purposes. US Tiger Securities, Inc. is the sole book runner for the offering.
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