Skyline Builders Group Holding Limited (NASDAQ: SKBL), a civil engineering services provider in Hong Kong, has announced the closing of its initial public offering (IPO) of 1,500,000 Class A ordinary shares at a public offering price of $4.00 per share, raising total gross proceeds of $6 million.
Key Point: The successful completion of the IPO provides Skyline Builders Group Holding Limited with the necessary funds to enhance its capacities, strengthen its market position, and support its growth strategy, while also increasing its visibility and credibility as a publicly traded company on the NASDAQ Capital Market.
The proceeds from the Offering will be used to:
- Enhance the Company's capacities in hiring additional staff
- Strengthen its market position in the civil engineering industry
- Acquire machinery to enhance its capacity
- Enhance the Company's brand
- Fund working capital and other general corporate purposes
The Offering was conducted on a firm commitment basis, with Dominari Securities LLC acting as representative of the underwriters and Revere Securities LLC acting as co-underwriter. Loeb & Loeb LLP acted as counsel to the Company, and Sichenzia Ross Ference Carmel LLP acted as counsel to the Underwriters.
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