Ispire Technology Announces Public Offering Price of $12.3 Million
LOS ANGELES , March 22, 2024 /PRNewswire/ — Ispire Technology Inc. (“Ispire” or the “Company”) (NASDAQ: ISPR) is a leader in research and development, design, commercialization, sales, marketing and distribution of branded products. is. The company, which sells e-cigarette and cannabis vape products, announced today that it is offering 2,050,000 shares of its common stock at a public offering price of $6.00 per share, with gross proceeds of $12.3 million, before deducting brokerage agent commissions and offering expenses expected to be paid by the company. Pricing has been announced. . Closing of the initial public offering is expected to occur on or about March 26, 2024, subject to customary closing conditions being satisfied or waived.
Roth Capital Partners acted as lead placement agent for this offering. TFI Securities and Futures Limited acted as joint placement agent for the offering.
The Company intends to use the net proceeds from this offering in connection with the establishment and operation of a manufacturing facility in Malaysia and the financing of its joint venture with Touch Point Worldwide Inc. d/b/a Verify and Chemular Inc. . The documents contemplated by the previously announced amended term sheet and letter of intent will be executed for general corporate purposes, including working capital and research and development, prior to the relevant closing dates.
The shares described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-276804), which was declared effective by the Securities and Exchange Commission (the “SEC”) on March 21, 2024. A prospectus relating to the offering will be filed by the Company with the SEC. Copies of the final prospectus, when available, may be obtained from the SEC's website at www.sec.gov or from Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147 can.
This press release does not make up the solicitation of sending or purchasing the securities sales here, and in a state or jurisdiction area where such applications, solicitation, or sales are illegal. There shall be no sale of these securities. Prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Ispire Technology Co., Ltd.
Ispire is engaged in the research and development, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis e-cigarette products. Our operating subsidiaries own or license more than 200 of his patents, which have been granted or filed throughout the world. Ispire's tobacco products are sold under his Aspire brand name and are sold throughout the world (excluding the United States, the People's Republic of China and Russia) primarily through its global distribution network. The company's cannabis products are primarily sold under the Ispire brand to other cannabis vapor companies on an original design manufacturer (ODM) basis. Ispire sells its cannabis vape hardware only in the United States, and recently began marketing in Canada and Europe. For more information, visit www.ispiretechnology.com or follow Ispire on Instagram, LinkedIn, Facebook, Twitter, and YouTube.
original press release
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