SAG HOLDINGS LIMITED ANNOUNCES PRICING OF INITIAL PUBLIC OFFERING AND LISTING ON THE NASDAQ CAPITAL MARKET

Rhea-AI Summary

SAG Holdings (Nasdaq: SAG), a Singapore-based provider of high-quality OEM, third-party branded, and in-house branded replacement parts for motor vehicles and non-vehicle combustion engines, has announced the pricing of its initial public offering. The company is offering 875,000 ordinary shares at $8.00 per share, aiming to raise $7,000,000 in gross proceeds. Trading of SAG's ordinary shares on the Nasdaq Capital Market is set to begin on October 23, 2024, under the symbol 'SAG'.

Wilson-Davis & Co., Inc. is acting as the lead underwriter for the offering. The SEC has declared effective a registration statement on Form F-1 related to the offering. Interested investors can obtain copies of the final prospectus from Wilson-Davis & Co., Inc. or via the SEC's website.

Positive

• Initial public offering on Nasdaq Capital Market
• Potential to raise $7,000,000 in gross proceeds
• Expansion of capital for business operations

Negative

• Potential dilution of existing shareholders' ownership
• Underwriting discounts and offering expenses will reduce net proceeds

Insights

Financial Analyst

SAG Holdings 's IPO pricing at $8.00 per share for 875,000 ordinary shares is a significant milestone for the company. The total gross proceeds of $7,000,000 will provide important capital for the Singapore-based OEM parts provider. This IPO demonstrates investor confidence in SAG's business model and growth potential in the automotive replacement parts market.

The listing on the Nasdaq Capital Market under the symbol "SAG" will increase the company's visibility and potentially improve its access to future capital. However, investors should note that as a newly public company, SAG may face challenges in meeting public market expectations and regulatory requirements.

The involvement of Wilson-Davis & Co., Inc. as the lead underwriter suggests a relatively small-scale offering, which is common for companies of this size. Investors should carefully review the prospectus for detailed financial information and risk factors before making investment decisions.

Market Research Analyst

The IPO of SAG Holdings taps into the growing global automotive aftermarket, which is projected to expand significantly in the coming years. As a provider of OEM, third-party branded and in-house branded replacement parts, SAG is well-positioned to capitalize on this trend.

The company's focus on both vehicle and non-vehicle combustion engine parts diversifies its revenue streams, potentially offering some resilience against shifts in the automotive industry. However, investors should consider the long-term impact of the transition to electric vehicles on SAG's business model.

The $7 million raised, while modest, could fuel SAG's expansion plans or R&D efforts. The success of this IPO may also signal increased investor interest in the automotive parts sector, potentially paving the way for similar companies to go public.

SINGAPORE, Oct. 22, 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 pricing 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.

All of the ordinary shares are being offered by the Company. The ordinary shares will begin trading on the Nasdaq Capital Market on October 23, 2024, under the symbol “SAG.”

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

A registration statement on Form F-1, as amended (File No. 333-267771) relating to the Offering has been filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on September 30, 2024. The Offering is being made only 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, when available, relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release 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

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

SAG Holdings has priced its initial public offering at $8.00 per ordinary share.

How many shares is SAG Holdings (SAG) offering in its IPO?

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

When will SAG Holdings (SAG) begin trading on the Nasdaq?

SAG Holdings 's ordinary shares are scheduled to begin trading on the Nasdaq Capital Market on October 23, 2024, under the symbol 'SAG'.

How much does SAG Holdings (SAG) expect to raise in its IPO?

SAG Holdings aims to raise $7,000,000 in gross proceeds from its initial public offering.