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     109  0 Kommentare Rectitude Holdings Ltd Announces Closing of $8 Million Initial Public Offering

    SINGAPORE, June 24, 2024 (GLOBE NEWSWIRE) -- Rectitude Holdings Ltd (the “Company” or “Rectitude”), a Singapore-based provider of safety equipment and related industrial products, today announced the closing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares at a public offering price of $4.00 per ordinary share, for total gross proceeds of $8,000,000, before deducting underwriting discounts, commissions, and other related expenses.

    The Company has granted A.G.P./Alliance Global Partners (“A.G.P.” or “Representative”), the underwriter, an option, exercisable within 45 days from the closing date of the Offering, to purchase up to an additional 300,000 ordinary shares at the initial public offering price, less underwriting discounts to cover over-allotments, if any. Shares of the Company’s common stock began trading on the Nasdaq Capital Market under the symbol “RECT” on June 21, 2024.

    The Offering was conducted on a firm commitment basis. The Company intends to use the proceeds from the Offering for marketing and promotional campaigns, product development, digital transformation and system upgrades, along with working capital and general corporate purposes.

    A.G.P./Alliance Global Partners acted as the sole book-running manager for the Offering. Ortoli Rosenstadt LLP acted as U.S. counsel to the Company, and The Crone Law Group P.C. acted as U.S. counsel to A.G.P. in connection with this Offering.

    A registration statement on Form F-1 (File No. 333-276517) was filed with the Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on June 20, 2024. A final prospectus relating to the Offering dated June 21, 2024 has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus relating to this Offering, when available, may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, Telephone: (212) 624-2060; Email: prospectus@allianceg.com.

    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 Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.

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    Rectitude Holdings Ltd Announces Closing of $8 Million Initial Public Offering SINGAPORE, June 24, 2024 (GLOBE NEWSWIRE) - Rectitude Holdings Ltd (the “Company” or “Rectitude”), a Singapore-based provider of safety equipment and related industrial products, today announced the closing of its initial public offering (the …