Junee Limited Announces Pricing of $8 Million Initial Public Offering

Hong Kong, April 17, 2024 (GLOBE NEWSWIRE) -- Junee Limited (the “Company” or “Junee”), a provider of interior design, fit-out and maintenance services in Hong Kong, today announced the pricing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares at a price of $4.00 per share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on April 17, 2024 under the ticker symbol “JUNE”.

The Company expects to receive aggregate gross proceeds of $8 million from the Offering, before deducting underwriting discounts and other related expenses. The Offering is expected to close on or about April 19, 2024, subject to the satisfaction of customary closing conditions. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares at the public offering price, less underwriting discounts.

Proceeds from the Offering will be primarily for the following: expanding service capacity, potential strategic investment and acquisitions and general working capital.

The Offering is being conducted on a firm commitment basis. Spartan Capital Securities LLC is acting as sole book runner and lead underwriter for the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel to the Company, and FisherBroyles, LLP is acting as U.S. counsel to Spartan Securities LLC in connection with the Offering.

A registration statement on Form F-1 relating to the Offering has been filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-266116) and was declared effective by the SEC on April 1, 2024. The Offering is being made only by means of a final prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained, when available, from Spartan Capital Securities LLC, 45 Broadway, 19th Floor, New York, NY 10006, Attention: Kim Monchik by email at [e-mail], or by calling [phone]. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.