Raytech Holding Limited Announces Closing of the Underwriters’ Over-Allotment Option in Connection with its Initial Public Offering
July 05 2024 - 11:50AM
Raytech Holding Limited (the “Company” or “RAY”), a Hong
Kong-headquartered company specializes in design, sourcing and
wholesale of personal care electrical appliances for international
brand owners, today announced that it closed the sale of an
additional 113,083 ordinary shares of the Company, pursuant to the
partial exercise of the underwriters’ over-allotment option granted
in connection with the Company’s initial public offering (“IPO”),
at the IPO price of $4 per share, less underwriting discounts. As a
result, the Company has raised gross proceeds of $452,332 in
addition to the previously announced IPO gross proceeds of
approximately $6,000,000, before deducting underwriting discounts
and offering expenses.
Revere Securities, LLC, acted as the
representative of the underwriters, R.F. Lafferty & Co., Inc.
acted as the joint book runner, and Dominari Securities LLC acted
as co-manager, (the “Underwriters”) for the IPO. Robinson &
Cole LLP acted as U.S. counsel to the Company, and Hunter Taubman
Fischer & Li LLC acted as U.S. counsel to the Underwriters, in
connection with the IPO.
A registration statement on Form F-1 (File No.
333-275197) relating to the IPO, as amended, has been filed with
the U.S. Securities and Exchange Commission (the "SEC") and was
declared effective by the SEC on May 13, 2024. The IPO is being
made only by means of a prospectus. Copies of the final prospectus
related to the IPO may be obtained, when available, from Revere
Securities LLC by email at info@reveresecurities.com or via
standard mail to Revere Securities LLC, 560 Lexington Avenue 16Fl,
NY, NY 10022. In addition, a copy of the final prospectus can also
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 IPO.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
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 Raytech Holding Limited
Raytech Holding Limited is a Hong
Kong-headquartered company with over 10 years of experience in the
personal care electrical appliance industry. Through its operating
subsidiary in Hong Kong, it sources and wholesales a diverse range
of personal care electrical appliances ranging from hair styling,
tooling, trimmer, eyelash curler, neck care, to nail care and other
body and facial care appliances for international brand owners,
providing integrated product design, production processing, and
manufacturing solutions. For more information please visit:
https://ir.raytech.com.hk/.
Forward-Looking Statement
This press release contains forward-looking
statements. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as "may, "will, "intend," "should," "believe,"
"expect," "anticipate," "project," "estimate" or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause actual results to differ materially
from the Company's expectations discussed in the forward-looking
statements. These forward-looking statements are subject to
uncertainties and risks including, but not limited to, the
uncertainties related to market conditions and other factors
discussed in the “Risk Factors” section of the registration
statement 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. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
For more information, please contact:
UnderwritersRevere Securities LLC560 Lexington
Ave, 16th Floor,New York, NY10022(212)
688-2350contact@reveresecurities.com
R.F. Lafferty & Co., Inc.40 Wall Street, 29th FloorNew York,
NY 10005(212) 293-9090offerings@rflafferty.com
Investor RelationsWFS Investor Relations
Inc.Janice Wang, Managing PartnerEmail:
services@wealthfsllc.comPhone: +86 13811768599+1 628 283 9214
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