SAG HOLDINGS LIMITED ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING

Rhea-AI Summary

SAG Holdings (Nasdaq: SAG) has completed its initial public offering, raising $7 million in gross proceeds through the sale of 875,000 ordinary shares at $8.00 per share. Trading of the shares commenced on the Nasdaq Capital Market on October 23, 2024, under the symbol 'SAG'. The Singapore-based company specializes in manufacturing OEM, third-party branded, and in-house branded replacement parts for motor vehicles and non-vehicle combustion engines. Wilson-Davis & Co. served as the lead underwriter for the offering, which was conducted following SEC approval of the company's Form F-1 registration statement.

Positive

• Successfully raised $7 million through IPO
• Achieved Nasdaq Capital Market listing
• Offering price established at $8.00 per share

Negative

• Small offering size might limit operational expansion potential
• Potential shareholder dilution from 875,000 new shares

Insights

Financial Markets Expert

This IPO marks a significant milestone for SAG Holdings, raising $7 million in gross proceeds through the offering of 875,000 ordinary shares at $8.00 per share. The Singapore-based auto parts manufacturer's listing on the Nasdaq Capital Market represents a strategic move to access U.S. capital markets and potentially expand its global footprint.

The relatively modest offering size suggests a conservative approach to public markets entry. For automotive parts manufacturers, access to public capital can be important for funding inventory, R&D and potential acquisitions in a highly competitive sector. The successful listing provides SAG with enhanced visibility and potential access to additional capital through secondary offerings if needed.

The timing of this IPO is particularly interesting given the challenging market conditions for new listings, indicating either strong fundamentals or strategic necessity. Investors should monitor post-IPO performance and lock-up period expiration, typically occurring 180 days after listing.

SINGAPORE, Oct. 24, 2024 (GLOBE NEWSWIRE) -- SAG Holdings Limited (“SAG Holdings” or the “Company”), (Nasdaq: SAG), a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third-party branded and in-house branded replacement parts for motor vehicles and non-vehicle combustion engines, announced today the closing of its initial public offering (the “Offering”) of 875,000 ordinary shares at a price of $8.00 per share to the public, for a total of US$7,000,000 of gross proceeds to the Company, before deducting underwriting discounts and other offering expenses.

The ordinary shares began trading on the Nasdaq Capital Market on October 23, 2024, under the symbol “SAG.”

Wilson-Davis & Co., Inc. is the lead underwriter of the Offering. TroyGould PC is acting as U.S. counsel to the Company.

The Offering was conducted pursuant to the Company’s registration statement on Form F-1, as amended (File No. 333-267771) relating to the Offering, which was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on September 30, 2024. The Offering was made by means of a prospectus, forming part of the registration statement. Copies of the final prospectus related to the Offering may be obtained, when available, from Wilson-Davis & Co., Inc., 236 South Main Street, Salt Lake City, UT 84101, or by email at syndicate@wdco.com, or by telephone at (801) 532-1313. 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 has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these 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 any such state or jurisdiction.

About SAG Holdings

SAG Holdings is a leading Singapore-based distributor dedicated to supplying high-quality spare parts across a wide range of industries.

On-Highway Division: We provide an extensive range of genuine OEM and aftermarket parts for passenger vehicles, trucks, and buses. Our offerings include parts from manufacturers' brands, trusted third-party labels, and our in-house brands.

Off-Highway Division: Catering to industries like construction, marine, power generation, mining, and transportation, we offer specialized spare parts focusing on filtration systems, lubricants, batteries, and internal combustion engine components.

Our unwavering commitment to quality ensures customers experience maximum uptime, enhanced performance, and reduced total cost of ownership throughout the lifecycle of their machines. For more information, visit https://www.sag.sg.

Safe Harbor Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and SAG Holdings Limited specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com

FAQ

How much did SAG Holdings raise in its IPO?

SAG Holdings raised $7 million in gross proceeds through its initial public offering.

What is the IPO price for SAG Holdings (SAG) shares?

SAG Holdings shares were priced at $8.00 per share in the IPO.

When did SAG Holdings (SAG) begin trading on Nasdaq?

SAG Holdings began trading on the Nasdaq Capital Market on October 23, 2024.

How many shares did SAG Holdings offer in its IPO?

SAG Holdings offered 875,000 ordinary shares in its initial public offering.