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Premium Catering (Holdings) (Nasdaq: PC) has successfully closed its initial public offering (IPO) of 2,000,000 ordinary shares at $4.75 per share, raising $9.5 million in gross proceeds. The company sold 1,650,000 shares, while selling shareholders offered 350,000 shares. PC received $7,837,500 in gross proceeds before deductions.
The funds will be used for IT system upgrades, production automation, expanding delivery fleet and asset management services, potential acquisitions, marketing, loan repayment, and working capital. Bancroft Capital, acted as the sole underwriter. The IPO was conducted under SEC registration (File Number: 333-279272), effective September 23, 2024.
Premium Catering (Holdings) (Nasdaq: PC) has announced the pricing of its initial public offering (IPO) of 2,000,000 ordinary shares at $4.75 per share, aiming to raise $9.5 million in gross proceeds. The company is offering 1,650,000 shares, while selling shareholders are offering 350,000 shares. Trading is set to begin on the Nasdaq Capital Market on September 25, 2024, under the ticker symbol 'PC'. The offering is expected to close around September 26, 2024.
PC is a food caterer in Singapore, providing prepared meals to foreign workers, operating food stalls, and offering buffet catering services. Bancroft Capital, is acting as the sole underwriter for the IPO. A registration statement has been filed with the SEC and declared effective on September 23, 2024.
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