WF Holding Limited's Underwriters Exercise Over-Allotment Option
WF Holding Limited Expands Offering Through Underwriters' Option
WF Holding Limited (NASDAQ: WFF), a prominent manufacturer of fiberglass reinforced plastic (FRP) products, has made an exciting announcement regarding its initial public offering. Recently, the company revealed that the underwriters of its Offering have partially exercised their over-allotment option. This move allows them to purchase an additional 240,000 ordinary shares at the public offering price of US$4.00 each, which culminates in an extra gross revenue of US$960,000.
Details of the Public Offering
With the partial execution of the over-allotment option, the total number of ordinary shares sold in the public offering has risen to 2,240,000. This significant increase brings the total gross proceeds to approximately US$8.96 million, which is determined before accounting for underwriter discounts and other associated costs. Such success for WF Holding underscores the strong market interest and investor confidence in the company.
Trading and Underwriter Roles
It is noteworthy that the ordinary shares commenced trading on the Nasdaq Capital Market on March 27, 2025, under the ticker symbol "WFF." Dominari Securities LLC has played a pivotal role as the lead underwriter, while Revere Securities LLC has contributed as a co-underwriter for the Offering, showcasing the team's collective expertise in this arena.
Legal Representation and Compliance
Legal support for the Offering was provided by Bevilacqua PLLC for the Company, while The Crone Law Group, P.C. represented the underwriters. This collaboration ensured compliance with regulations pertinent to the registration statement that was filed with the U.S. Securities and Exchange Commission.
Company Profile: WF Holding Limited
WF Holding Limited holds an esteemed position within the fiberglass reinforced plastic manufacturing sector. With a commitment to excellence, they achieve ISO 9001:2015 certification and offer an extensive range of FRP products, including tanks, pipes, and custom designs tailored to meet the specific needs of their clients. With over three decades of experience, the company has been instrumental in enhancing industrial infrastructure through durable and high-quality FRP solutions, ensuring both performance and reliability.
Services Beyond Products
In addition to their product offerings, WF Holding also prides itself on providing a spectrum of related services. These include consultation, delivery, installation, repair, and maintenance, establishing the company as a comprehensive service provider in the industry.
Frequently Asked Questions
What was the purpose of the underwriters' over-allotment option?
The over-allotment option allows underwriters to purchase additional shares to cover any excess demand, enhancing overall funding for the Company.
How much did the Offering raise in total?
The total gross proceeds from the Offering increased to approximately US$8.96 million following the partial exercise of the over-allotment option.
What does WF Holding Limited manufacture?
WF Holding manufactures fiberglass reinforced plastic (FRP) products, including tanks, pipes, ducts, and custom solutions for various industrial applications.
When did WF Holding's shares begin trading?
The ordinary shares of WF Holding Limited began trading on March 27, 2025, on the Nasdaq Capital Market.
How can someone obtain the prospectus related to the Offering?
The final prospectus for the Offering can be requested from the underwriters via email, standard mail, or by contacting them directly.
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