Xiamen, China, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Star Fashion Culture Holdings Limited ("Star Fashion" or the "Company") today announced the pricing on October 10, 2024 of its initial public offering of an aggregate of 2,150,000 shares of its Class A Ordinary Shares ("the Offering"). The Offering was priced at $4.00 per share.
In addition, the Company has granted the Underwriters a 30-day option to purchase up to an additional 322,500 shares of its Class A Ordinary Shares at the initial public offering price ("the Over-allotment"), less underwriting discounts and commissions.
Assuming that the Over-allotment is not exercised, the gross proceeds to Star Fashion from the Offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Star Fashion, is expected to be $8.60 million.
The shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol "STFS" on October 11, 2024. The Offering is expected to close on October 15, 2024, subject to customary closing conditions.
Cathay Securities, Inc. ("Cathay") is the representative for the offering, and WestPark Capital, Inc. ("Westpark"） is an underwriter for the offering. Loeb & Loeb LLP, Jingtian & Gongcheng and Ogier are acting as U.S., China, and Cayman Islands legal counsels to the Company, respectively, and Haneberg Hurlbert PLC is acting as U.S. legal counsel to Cathay for the Offering.
The Offering and resale registration statement is being conducted pursuant ...
