Kingswood Capital Partners Prices $8M IPO for WORK Medical
Kingswood Capital Partners Announces Pricing of Initial Public Offering
Kingswood Capital Partners, LLC has announced the pricing of an initial public offering (the "Offering") for its client WORK Medical Technology Group LTD. (Nasdaq: WOK), which is a supplier of medical devices. The Offering involves 2,000,000 ordinary shares at a public offering price of US$4.00 each. This marks a significant milestone for the Company as its shares commence trading under the ticker symbol "WOK."
Offer Details and Financial Expectations
The aggregate gross proceeds expected from the Offering are US$8.00 million, which will be received by the Company prior to the deduction of any underwriting discounts and related expenses. This infusion of capital is projected to facilitate the Company’s growth initiatives and operational advancements.
Utilization of Proceeds
The funds raised from the Offering will support several key areas including upgrading production equipment and expanding production capacity. The Company also plans to invest in the development of masks, other medical consumables, and diverse medical devices. Additional allocations of the proceeds will cover product marketing efforts, patent purchases, working capital, and other general corporate purposes.
Offering Management and Legal Advice
The Offering is being facilitated on a “firm commitment” basis, with Kingswood Capital Partners acting as the sole book-running manager. Hunter Taubman Fischer & Li LLC is providing U.S. legal counsel for the Company, while Ortoli Rosenstadt LLP is serving in the same capacity for Kingswood.
Registration Statements and Compliance
A registration statement on Form F-1 related to the Offering has been submitted to the U.S. Securities and Exchange Commission (SEC) and was declared effective. The Offering is conducted exclusively via a prospectus which is part of the registration statement. Interested parties can obtain copies of the prospectus directly from Kingswood.
Contact Information for Prospectus
For information regarding the Offering, Kingswood can be contacted at their office in Boca Raton, FL. They offer assistance through various means, including email. Moreover, the SEC’s website hosts additional documentation related to the Offering.
Overview of WORK Medical Technology Group LTD
WORK Medical Technology Group LTD operates in the medical devices sector, focusing on the development and manufacturing of Class I and II medical devices. The Company boasts a robust product portfolio consisting of 21 distinct products, including customized masks and other essential medical consumables. The Company’s products have been successfully marketed across 34 provincial-level regions in China and have gained traction in over 30 countries globally.
Regulatory Compliance and Product Quality
WORK Medical Technology Group LTD is committed to maintaining high-quality standards in its manufacturing processes. The company has achieved several quality-related designations and has registered 17 of its products with the U.S. Food and Drug Administration, thus expanding its access to the U.S. market.
About Kingswood Capital Partners
Kingswood, as part of the Kingswood Group, is a multifaceted organization providing comprehensive wealth management and business-building services tailored for independent financial advisors. The group manages more than $14 billion in assets under management (AUM) and supports over 400 registered representatives, blending the resources of a large financial services firm with the personalized service of a boutique operation.
Media Contacts
For inquiries related to media, Kingswood Capital Partners can be contacted through Ryan Sabet, Director of Acquisition, Recruitment & Strategic Initiatives. He is reachable by telephone or via email for those interested in learning more about Kingswood's offerings.
Frequently Asked Questions
What is the price of the ordinary shares in the IPO?
The ordinary shares are priced at US$4.00 each in the initial public offering.
How many ordinary shares are being offered?
A total of 2,000,000 ordinary shares are included in the offering.
What will the proceeds from the IPO be used for?
The proceeds will be used to upgrade production equipment, develop new medical products, and cover marketing and operational expenses.
Who is managing the IPO?
Kingswood Capital Partners is the sole book-running manager for the IPO.
Where can interested parties find the prospectus for the offering?
The prospectus can be obtained from Kingswood directly or via the SEC’s website.
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