Skk Holdings Limited Announces Pricing of $10.0 Million Initial Public Offering
October 07 2024 - 2:00PM
SKK Holdings Limited (“SKK” or the “Company”) (Nasdaq: SKK), a
civil engineering service provider that specializes in subsurface
utility works in Singapore, today announced the pricing of its
initial public offering (the “Offering”) of an aggregate 2,500,000
ordinary shares at a public offering price of $4.00 per share for
total gross proceeds of $10.0 million, before deducting
underwriting discounts and offering expenses. The Company is
offering 1,750,000 ordinary shares and selling shareholders are
offering an aggregate of 750,000 ordinary shares. The Company will
not receive any proceeds from any sale of ordinary shares by the
selling shareholders.
The ordinary shares are scheduled to begin
trading on the Nasdaq Capital Market on October 8, 2024, under the
ticker symbol “SKK.” The Offering is expected to close on or about
October 9, 2024, subject to customary closing conditions.
Bancroft Capital, LLC is acting as sole
underwriter for the Offering. Troy Gould PC is acting as U.S. legal
counsel to the Company, and Taft Stettinius & Hollister LLP is
acting as U.S. legal counsel to Bancroft Capital, LLC.
This offering is being conducted pursuant to the
Company’s registration statement on Form F-1 related to the
Offering, as amended (File No. 333-276744), which was filed with
the United States Securities and Exchange Commission (the “SEC”)
and was declared effective on September 18, 2024. The offering of
the securities is being made only by means of a prospectus forming
a part of the registration statement. Electronic copies of the
final prospectus relating to the Offering may be obtained by
visiting the SEC’s website located at http://www.sec.gov or by
contacting Bancroft Capital, LLC, 501 Office Center Drive, Suite
130, Fort Washington, PA 19034, Attention: Jason Diamond or email:
investmentbanking@bancroft4vets.com or by telephone at
484-546-8000.
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 the Company’s
securities, nor shall there be any offer, solicitation, or sale of
such 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 SKK Holdings Limited
SKK Holdings Limited is a civil engineering
service provider that specializes in subsurface utility works in
Singapore. We seek to plan, construct and maintain various public
works and infrastructure projects that serve the society and the
environment. We have over 10 years of experience in providing civil
engineering services to our customers in Singapore in numerous
public utility projects, including but not limited to power and
telecommunication cable laying works, water pipeline works and
sewer rehabilitation works.
Safe Harbor Statement
This press release contains forward-looking
statements that reflect our current expectations and views of
future events, including but not limited to, the Company’s proposed
Offering. Known and unknown risks, uncertainties and other factors,
including those listed under “Risk Factors” in the registration
statement on Form F-1 related to the Offering, may cause our actual
results, performance or achievements to be materially different
from those expressed or implied by the forward-looking statements.
You can identify some of these forward-looking statements by words
or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “is/are likely to,”
“potential,” “continue” or other similar expressions. We have based
these forward-looking statements largely on our current
expectations and projections about future events that we believe
may affect our financial condition, results of operations, business
strategy and financial needs. These forward-looking statements
involve various risks and uncertainties. Except as required by law,
we undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events. We
qualify all of our forward-looking statements by these cautionary
statements.
Contact:
SKK Holdings Limited Contact:Yee Yen HanChief
Financial OfficerTelephone +65 6334 3831skkcfo@skkworks.com.sg
Phaik Shya KoayFinancial ControllerTelephone +65
6334 3831kelly.koay@skkworks.com.sg
Underwriter Inquiries:Bancroft Capital, LLC, 501
Office Center Drive, Suite 130Fort Washington, PA 19034Email:
investmentbanking@bancroft4vets.com
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