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Hong Kong, July 05, 2024 (GLOBE NEWSWIRE) -- 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/.