PTL Limited Announces Pricing of $7.14 Million Public Offering of its Ordinary Shares
PTL (NASDAQ: PTLE), a marine fuel logistics services provider in Asia Pacific, has announced the pricing of its public offering of 23,800,000 ordinary shares at $0.30 per share. The offering is expected to generate gross proceeds of approximately $7.14 million before deducting placement agent fees and other expenses.
The offering is scheduled to close on April 10, 2025, subject to customary conditions. Revere Securities serves as the exclusive placement agent, with Ortoli Rosenstadt LLP acting as U.S. securities counsel to PTL and Hunter Taubman Fischer & Li as counsel for the placement agent. The offering is made pursuant to an SEC-effective registration statement on Form F-1.
PTL (NASDAQ: PTLE), un fornitore di servizi di logistica per carburanti marini nella regione Asia-Pacifico, ha annunciato il prezzo della sua offerta pubblica di 23.800.000 azioni ordinarie a $0,30 per azione. Si prevede che l'offerta generi proventi lordi di circa $7,14 milioni prima di dedurre le commissioni dell'agente di collocamento e altre spese.
L'offerta è programmata per chiudere il 10 aprile 2025, soggetta a condizioni consuete. Revere Securities funge da agente di collocamento esclusivo, con Ortoli Rosenstadt LLP che agisce come consulente legale per i titoli negli Stati Uniti per PTL e Hunter Taubman Fischer & Li come consulente per l'agente di collocamento. L'offerta è effettuata ai sensi di una dichiarazione di registrazione efficace presso la SEC, su modulo F-1.
PTL (NASDAQ: PTLE), un proveedor de servicios de logística de combustible marino en Asia-Pacífico, ha anunciado el precio de su oferta pública de 23,800,000 acciones ordinarias a $0.30 por acción. Se espera que la oferta genere ingresos brutos de aproximadamente $7.14 millones antes de deducir las comisiones del agente de colocación y otros gastos.
Se prevé que la oferta cierre el 10 de abril de 2025, sujeto a condiciones habituales. Revere Securities actúa como agente de colocación exclusivo, con Ortoli Rosenstadt LLP como asesor legal en EE. UU. para PTL y Hunter Taubman Fischer & Li como asesor del agente de colocación. La oferta se realiza en virtud de una declaración de registro efectiva ante la SEC en el formulario F-1.
PTL (NASDAQ: PTLE)는 아시아 태평양 지역의 해양 연료 물류 서비스 제공업체로, 23,800,000주의 공개 제공 가격을 $0.30 per share로 발표했습니다. 이 제공은 대리인 수수료 및 기타 비용을 공제하기 전 약 $7.14 million의 총 수익을 창출할 것으로 예상됩니다.
이 제공은 2025년 4월 10일에 종료될 예정이며, 일반적인 조건에 따라 진행됩니다. Revere Securities는 독점적인 배치 대리인으로 활동하며, Ortoli Rosenstadt LLP는 PTL의 미국 증권 법률 자문 역할을 하고, Hunter Taubman Fischer & Li는 배치 대리인을 위한 법률 자문을 맡고 있습니다. 이 제공은 SEC의 효력 있는 등록 성명서에 따라 이루어집니다, 양식 F-1.
PTL (NASDAQ: PTLE), un fournisseur de services logistiques de carburant maritime dans la région Asie-Pacifique, a annoncé le prix de son offre publique de 23 800 000 actions ordinaires à 0,30 $ par action. L'offre devrait générer des produits bruts d'environ 7,14 millions de dollars avant déduction des frais de l'agent de placement et d'autres dépenses.
L'offre est prévue pour clôturer le 10 avril 2025, sous réserve des conditions habituelles. Revere Securities agit en tant qu'agent de placement exclusif, avec Ortoli Rosenstadt LLP agissant en tant que conseiller juridique en valeurs mobilières aux États-Unis pour PTL et Hunter Taubman Fischer & Li en tant que conseiller de l'agent de placement. L'offre est réalisée conformément à une déclaration d'enregistrement efficace auprès de la SEC sur le formulaire F-1.
PTL (NASDAQ: PTLE), ein Anbieter von Logistikdienstleistungen für Marinekraftstoffe im asiatisch-pazifischen Raum, hat den Preis für sein öffentliches Angebot von 23.800.000 Stammaktien zu $0,30 pro Aktie bekannt gegeben. Es wird erwartet, dass das Angebot Bruttoeinnahmen von etwa $7,14 Millionen vor Abzug der Gebühren des Platzierungsagenten und anderer Ausgaben generiert.
Das Angebot soll am 10. April 2025 abgeschlossen werden, vorbehaltlich der üblichen Bedingungen. Revere Securities fungiert als exklusiver Platzierungsagent, während Ortoli Rosenstadt LLP als US-Wertpapierberater für PTL und Hunter Taubman Fischer & Li als Berater des Platzierungsagenten tätig sind. Das Angebot erfolgt gemäß einer bei der SEC wirksamen Registrierungsanmeldung auf Formular F-1.
- Secured $7.14 million in gross proceeds through public offering
- Significant shareholder dilution through issuance of 23.8 million new shares
- Low share price of $0.30 indicates potential market weakness
Insights
PTL 's announcement of a
This offering structure indicates extreme dilution. Based on the provided market cap of
The deep discount pricing is particularly troubling. Companies typically offer small discounts (5-15%) when raising capital. A
Notably absent is any explanation regarding the use of proceeds, leaving investors with no strategic context to justify such unfavorable terms. While the additional capital will strengthen the balance sheet, the offering structure raises serious questions about the company's financial health and management's regard for shareholder value.
For a shipping/bunkering services provider with this market capitalization, the need to raise capital on such punitive terms is a significant red flag that warrants immediate investor attention.
Hong Kong, April 09, 2025 (GLOBE NEWSWIRE) -- PTL Limited (NASDAQ: PTLE) (the “Company”), an established bunkering facilitator providing marine fuel logistics services for vessel refueling, serving the Asia Pacific market, today announced the pricing of its public offering (“Offering”) of 23,800,000 ordinary shares at a public offering price of
Gross proceeds, before deducting placement agent fees and other offering expenses, are expected to be approximately
Revere Securities LLC is acting as exclusive placement agent in connection with the Offering.
Ortoli Rosenstadt LLP is acting as counsel to the Company regarding U.S. securities law matters. Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel for the placement agent.
The securities described above are being offered pursuant to a registration statement on Form F-1, as amended (File No. 333-286108) (the “Registration Statement”), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 31, 2025. 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 the Offering, when available, may be obtained from Revere Securities LLC, 560 Lexington Ave 16th floor, New York, NY 10022, at +1 (212) 688-2350.
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 PTL Limited
Headquartered in Hong Kong, we are an established bunkering facilitator providing marine fuel logistics services for vessel refueling, primarily container ships, bulk carriers, general cargo vessels, and chemical tankers. Targeting and serving the Asia Pacific market, we leverage our close relationships and partnership within our established network in the marine fuel logistic industry, including the upstream suppliers and downstream customers, to provide a one-stop solution for vessel refueling.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including the closing of the Offering, 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 find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. 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. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the SEC before making any investment decisions regarding the Company’s securities. 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.
For investor and media inquiries, please contact:
PTL Limited
Investor Relations
Email: info@petrolinkhk.com
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