Star Fashion Culture Holdings Limited Announces Closing of $8.6 Million Initial Public Offering
Star Fashion Culture Holdings has announced the closing of its initial public offering (IPO), raising $8.6 million from the sale of 2,150,000 Class A Ordinary Shares at $4.00 per share. The shares started trading on the NASDAQ Capital Market under the symbol STFS on October 11, 2024. The company has also granted underwriters a 30-day option to purchase an additional 322,500 shares at the IPO price. Cathay Securities and WestPark Capital served as the offering's representative and underwriter, respectively, with legal counsel from Loeb & Loeb LLP, Jingtian & Gongcheng, Ogier, and Haneberg Hurlbert PLC. The offering is conducted under the company's Registration Statement on Form F-1, declared effective by the SEC on September 30, 2024. Additional information and the final prospectus can be accessed via the SEC’s website.
Star Fashion Culture Holdings ha annunciato la chiusura della sua offerta pubblica iniziale (IPO), raccogliendo 8,6 milioni di dollari dalla vendita di 2.150.000 azioni ordinarie di Classe A a 4,00 dollari per azione. Le azioni hanno iniziato a essere scambiate sul NASDAQ Capital Market sotto il simbolo STFS l'11 ottobre 2024. La società ha anche concesso agli underwriter un'opzione di 30 giorni per acquistare ulteriori 322.500 azioni al prezzo dell'IPO. Cathay Securities e WestPark Capital hanno svolto rispettivamente i ruoli di rappresentante e underwriter dell'offerta, con consulenza legale da Loeb & Loeb LLP, Jingtian & Gongcheng, Ogier e Haneberg Hurlbert PLC. L'offerta è effettuata sotto la Dichiarazione di Registrazione della società sul Modulo F-1, dichiarata efficace dalla SEC il 30 settembre 2024. Ulteriori informazioni e il prospetto finale possono essere consultati sul sito web della SEC.
Star Fashion Culture Holdings ha anunciado el cierre de su oferta pública inicial (IPO), recaudando 8.6 millones de dólares por la venta de 2,150,000 acciones ordinarias de Clase A a 4.00 dólares por acción. Las acciones comenzaron a cotizar en el NASDAQ Capital Market bajo el símbolo STFS el 11 de octubre de 2024. La compañía también ha otorgado a los suscriptores la opción de 30 días para comprar 322,500 acciones adicionales al precio de la IPO. Cathay Securities y WestPark Capital actuaron como el representante y suscriptor de la oferta, respectivamente, con asesoría legal de Loeb & Loeb LLP, Jingtian & Gongcheng, Ogier y Haneberg Hurlbert PLC. La oferta se lleva a cabo bajo la Declaración de Registro de la compañía en Formulario F-1, declarada efectiva por la SEC el 30 de septiembre de 2024. Información adicional y el prospecto final están disponibles en el sitio web de la SEC.
스타 패션 문화 홀딩스는 상장공모(IPO)를 마감했다고 발표하며, 2,150,000 클래스 A 보통주를 주당 4.00달러에 판매하여 총 860만 달러를 확보했습니다. 주식은 2024년 10월 11일에 NASDAQ 자본 시장에서 STFS라는 기호 아래 거래를 시작했습니다. 이 회사는 또한 인수인들에게 IPO 가격으로 추가 322,500주를 구매할 수 있는 30일 옵션을 부여했습니다. Cathay Securities와 WestPark Capital는 각각 이 제안의 대표와 인수인으로 활동하였으며, 법률 자문은 Loeb & Loeb LLP, Jingtian & Gongcheng, Ogier, Haneberg Hurlbert PLC에서 제공되었습니다. 이 제안은 SEC가 2024년 9월 30일에 효력을 인정한 양식 F-1 아래에서 진행됩니다. 추가 정보 및 최종 설명서는 SEC 웹사이트를 통해 확인할 수 있습니다.
Star Fashion Culture Holdings a annoncé la clôture de son offre publique initiale (IPO), levant 8,6 millions de dollars grâce à la vente de 2 150 000 actions ordinaires de Classe A au prix de 4,00 dollars par action. Les actions ont commencé à être négociées sur le NASDAQ Capital Market sous le symbole STFS le 11 octobre 2024. La société a également accordé aux souscripteurs une option de 30 jours pour acheter 322 500 actions supplémentaires au prix de l'IPO. Cathay Securities et WestPark Capital ont respectivement agi en tant que représentant et souscripteur de l'offre, avec des conseils juridiques de Loeb & Loeb LLP, Jingtian & Gongcheng, Ogier et Haneberg Hurlbert PLC. L'offre est réalisée dans le cadre de la Déclaration d'Enregistrement de l'entreprise sur le Formulaire F-1, déclarée efficace par la SEC le 30 septembre 2024. Des informations supplémentaires et le prospectus final peuvent être consultés sur le site Web de la SEC.
Star Fashion Culture Holdings hat den Abschluss ihres Börsengangs (IPO) bekannt gegeben und dabei 8,6 Millionen USD aus dem Verkauf von 2.150.000 Stammaktien der Klasse A zu einem Preis von 4,00 USD pro Aktie gesammelt. Die Aktien begannen am NASDAQ Capital Market unter dem Symbol STFS am 11. Oktober 2024 zu handeln. Das Unternehmen hat den Underwritern außerdem eine 30-tägige Option gewährt, 322.500 zusätzliche Aktien zu dem IPO-Preis zu kaufen. Cathay Securities und WestPark Capital fungierten als Vertreter und Underwriter des Angebots, unterstützt von Loeb & Loeb LLP, Jingtian & Gongcheng, Ogier und Haneberg Hurlbert PLC als rechtlichem Berater. Das Angebot erfolgt im Rahmen der Registrierungsunterlagen des Unternehmens auf Formular F-1, das am 30. September 2024 von der SEC für wirksam erklärt wurde. Weitere Informationen und das endgültige Prospekt sind auf der Website der SEC abrufbar.
- Raised $8.6 million from IPO.
- Shares began trading on NASDAQ under symbol STFS.
- Granted underwriters a 30-day option to purchase additional shares.
- Potential shareholder dilution from overallotment option.
Insights
The successful closing of Star Fashion Culture Holdings 's IPO, raising
Key points to consider:
- The offering of 2,150,000 Class A Ordinary Shares at
$4.00 per share indicates moderate investor interest. - The 30-day overallotment option for an additional 322,500 shares could potentially increase total proceeds if exercised.
- Involvement of reputable underwriters like Cathay Securities and WestPark Capital lends credibility to the offering.
- As a newly public company, STFS may face increased scrutiny and reporting requirements, which could impact short-term performance.
For investors, this IPO presents both opportunities and risks. While the fresh capital injection could fuel growth, the company's performance in the public markets remains to be seen. Investors should closely monitor early financial reports and management execution to gauge the company's potential.
Xiamen, China, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Star Fashion Culture Holdings Limited (“Star Fashion” or “the Company”) today announced the closing of its previously announced initial public offering of an aggregate 2,150,000 Class A Ordinary Shares (“the Offering”) at a price of
In addition, the Company has granted the Underwriters a 30-day option to purchase up to an additional 322,500 shares of its Class A Ordinary Shares at the initial public offering price (“the Overallotment”), less underwriting discounts and commissions.
Cathay Securities, Inc. (“Cathay”) is the representative for the offering, and WestPark Capital, Inc. (“Westpark”）is an underwriter for the offering. Loeb & Loeb LLP, Jingtian & Gongcheng and Ogier are acting as U.S., China, and Cayman Islands legal counsels to the Company, respectively, and Haneberg Hurlbert PLC is acting as U.S. legal counsel to Cathay for the Offering.
The Offering registration statement is being conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333-280198), as amended, which was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on September 30, 2024. The Offering is being made only by means of a prospectus. 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. You may get these documents for free by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from:
Cathay Securities, Inc.
40 Wall Street
Suite 3600
New York, NY 10005
(855) 939-3888
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. 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 any securities, and no sale of these securities may be made 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 other jurisdiction.
FORWARD-LOOKING STATEMENTS
Certain statements contained 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. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Star Fashion Culture 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.
About Star Fashion Culture Holdings Limited
Star Fashion Culture Holdings Limited (NASDAQ:STFS ) is a content marketing solutions services provider with a mission to offer high-quality diversified services. We offer services focusing on (i) marketing campaign planning and execution; (ii) offline advertising services; and (iii) online precision marketing services. The company assists customers in enhancing the effectiveness of their marketing activities and the value of their brand and products through our variety of services offered.
Contacts
Star Fashion Culture Holdings Limited Investor Relations Contact:
12F, No.611, Sishui Road
Huli District,
Xiamen
People’s Republic of China
Tel: +86 13063138565
Email: hira@xmxing-ji.com
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