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Springview Holdings Ltd Announces Closing of Initial Public Offering

Singapore, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Springview Holdings Ltd (the "Company" or "Springview") (NASDAQ:SPHL), a company that designs and constructs residential and commercial buildings in Singapore, today announced the closing of its initial public offering (the "Offering") of 1,500,000 Class A ordinary shares at a public offering price of US$4.00 per Class A ordinary share. The ordinary shares began trading on October 17, 2024 under the ticker symbol "SPHL."

The Company received aggregate gross proceeds of US$6 million from the Offering, before deducting underwriting discounts and other related expenses payable by the Company.

Proceeds from the Offering will be used for business development and marketing activities, hiring and training skilled workforce, and working capital and other general corporate purposes.

The Offering was conducted on a firm commitment basis. AC Sunshine Securities LLC ("AC Sunshine") acted as the underwriter for the Offering. Ortoli Rosenstadt LLP acted as U.S. counsel to the Company, and Olshan Frome Wolosky LLP acted as U.S. counsel to AC Sunshine in connection with the Offering.

A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the "SEC") (File No. 333-278521) and was declared effective by the SEC on September 30, 2024. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating ...