Xiamen, China, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Star Fashion Culture Holdings Limited ("Star Fashion" or "the Company") today announced the closing of its previously announced initial public offering of an aggregate 2,150,000 Class A Ordinary Shares ("the Offering") at a price of $4.00 per share ("the Offering Price") to the public, for a total of approximately US$8.6 million of gross proceeds to the Company, before deducting underwriting discounts and offering expenses. The shares began trading on the NASDAQ Capital Market on October 11, 2024, under the symbol "STFS."
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 Overallotment"), less underwriting discounts and commissions.
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 registration statement is being conducted pursuant to the Company's Registration Statement on Form F-1 (File No. 333-280198), as amended, which was declared effective by the U.S. Securities and Exchange Commission ("SEC") on September ...
