Turbo Energy, S.A. to Commence Trading on Nasdaq Under Ticker Symbol ‘TURB’

Valencia, Spain, Sept. 22, 2023 (GLOBE NEWSWIRE) -- Turbo Energy, S.A. (Nasdaq: TURB) (the “Company"), a company engaged in the design, development, and production of equipment for the generation, management, and storage of photovoltaic (“PV”) energy, announced today that the Company’s American Depository Shares (“ADSs") will commence trading today on The Nasdaq Capital Market under the ticker symbol “TURB.”

“Listing our shares on Nasdaq through our initial public offering is a great milestone for Turbo Energy, S.A., as it provides an excellent global platform to accelerate our mission to serve our customers by offering advanced products that reduce electricity bills and protect the installation from power outages. The use of proceeds from our initial public offering will allow us to achieve greater competitive advantages and facilitate growth while building our strong market position in the renewable energy sector. We plan to introduce innovations that improve products in energy efficiency, manufacturing costs, assembly and configuration time reduction, while also modernizing our software and expanding geographically into new markets,” commented Mr. Enrique Selva Bellvis, Chairman & CEO of Turbo Energy, S.A.

On September 21, 2023, Turbo Energy priced its initial public offering of 1,000,000 ADSs, representing 5,000,000 ordinary shares at a price of $5.00 per ADS to the public for a total of $5,000,000 of gross proceeds to the Company, before deducting underwriting discounts and offering expenses (the “Offering”).

The Company has granted a 45-day option to the underwriters to purchase up to 150,000 additional ADSs, representing 15% of the ADSs sold in the Offering, solely to cover over-allotments, if any, less the underwriting discount.
Titan Partners Group, a division of American Capital Partners, LLC, is acting as lead underwriter for the Offering. Boustead Securities, LLC is acting as the representative of the underwriters.

The Offering is being made only by means of a prospectus, forming part of the effective registration statement. A copy of the final prospectus related to the Offering may be obtained, when available, from Titan Partners Group, a division of American Capital Partners, LLC, 7 World Trade Center, Floor 46, New York, NY 10006, Attention: Syndicate Department, or via email at [e-mail] or telephone at [phone]. 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.