Cuprina Holdings Announces Closing of Underwriter’s Over-Allotment Option in Connection with Initial Public Offering

Rhea-AI Summary

Cuprina Holdings (NASDAQ: CUPR) announced the successful closing of its underwriter's over-allotment option following its IPO, selling an additional 450,000 Class A ordinary shares at $4.00 per share. Combined with the previously announced IPO proceeds of $12 million, the company has raised total gross proceeds of $13.8 million. R. F. Lafferty & Co. served as the sole book-running manager for the offering.

Cuprina, a biomedical and biotechnology company, focuses on developing products for chronic wound management, infertility treatments, and cosmeceuticals for the health and beauty sector. The offering was conducted under the company's Form F-1 registration statement, which became effective on March 31, 2025.

Positive

• Successfully raised $13.8 million in total gross proceeds through IPO and over-allotment
• Full exercise of over-allotment option indicates strong investor interest
• Diversified product portfolio across wound management, infertility, and cosmeceuticals

Negative

• Relatively small IPO size may limit operational expansion capabilities
• Low IPO price of $4.00 per share suggests early-stage valuation
• Additional shares from over-allotment will cause dilution for existing shareholders

Insights

Financial Analyst

Cuprina's IPO raises $13.8M with full over-allotment exercise, signaling strong initial investor demand and strengthening its balance sheet for growth.

Cuprina Holdings has successfully closed the full exercise of its underwriter's over-allotment option, selling an additional 450,000 Class A ordinary shares at $4.00 per share. This generated an extra $1.8 million in gross proceeds, bringing the total IPO raise to $13.8 million before deducting expenses.

The complete exercise of this "greenshoe option" represents a positive signal from capital markets. When underwriters exercise their over-allotment option, it typically indicates they've found sufficient demand to place additional shares beyond the initial offering. For Cuprina, this suggests a relatively warm market reception for their public debut.

This biomedical and biotechnology company, focused on chronic wound management, infertility treatments, and cosmeceuticals, now enters the public markets with enhanced financial resources. The $13.8 million gross proceeds provide Cuprina with critical working capital for operations, though investors should recognize this represents a modest raise by biotech industry standards.

For context, early-stage biomedical companies often require substantial capital to advance product development pipelines. Cuprina's successful IPO completion gives them access to public capital markets for potential future fundraising as their business develops. The company now faces the transition to public company status, with increased reporting requirements and the challenge of executing on their stated business objectives under investor scrutiny.

R.F. Lafferty's role as sole book-running manager indicates a more focused underwriting approach rather than a large syndicate, which aligns with the overall size of this offering. The successful completion of this financing step marks an important corporate milestone that strengthens Cuprina's balance sheet as they pursue commercialization in their target therapeutic areas.

SINGAPORE, May 08, 2025 (GLOBE NEWSWIRE) -- Cuprina Holdings (Cayman) Limited (Nasdaq: CUPR) (“Cuprina” or “the Company”), a biomedical and biotechnology company dedicated to the development and commercialization of products for the management of chronic wounds and infertility, as well as cosmeceuticals for the health and beauty sector, today announced that it closed the sale of an additional 450,000 Class A ordinary shares of the Company, pursuant to the full exercise of the underwriter’s over-allotment option granted in connection with the Company’s initial public offering (“IPO”, together with such over-allotment closing, the “Offering”), at the IPO price of $4.00 per share, less underwriting discounts. As a result, the Company has raised aggregate gross proceeds of $13,800,000, including the previously announced IPO gross proceeds of $12,000,000, prior to deducting underwriting discounts and commissions and estimated offering expenses payable by the Company.

R. F. Lafferty & Co., Inc. (“R. F. Lafferty”), acted as the sole book-running manager for the Offering. Loeb & Loeb LLP, Lee & Lee, Harney Westwood & Riegels Singapore LLP are acting as U.S., Singapore and Cayman Islands legal counsels to the Company, respectively, and Winston & Strawn LLP is acting as U.S. legal counsel to R. F. Lafferty for the Offering.

The Offering is being conducted pursuant to the Company’s registration statement on Form F-1 (File No. 333-283643), as amended, previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on March 31, 2025. The Offering is being made only by means of a prospectus, forming part of the registration statement. Copies of the final prospectus related to the Offering may be obtained, when available, from R. F. Lafferty & Co., Inc., 40 Wall Street, 27th Floor, New York, NY 10005; (212) 293-9090, or by email at offerings@rflafferty.com. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC’s website at www.sec.gov .

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cuprina Holdings (Cayman) Limited

We are a Singapore-based biomedical and biotechnology company that is dedicated to the development and commercialization of innovative products for the management of chronic wounds, as well as operating in the health and beauty sectors. Our expertise in biomedical research allows us to identify and utilize materials derived from natural sources to develop wound care products in the form of medical devices which meet international standards. For more information, please visit https://www.cuprina.com. 

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Cuprina Holdings (Cayman) Limited specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Cuprina Holdings (Cayman) Limited Investor Contact 
Investor Relations 
c/o Blk 1090 Lower Delta Road #06-08 
Singapore 169201 
+65 8512 7275 
Email: ir@cuprina.com.sg 

Investor Relations Inquiries: 
Skyline Corporate Communications Group, LLC 
Scott Powell, President 
1177 Avenue of the Americas, 5th Floor 
New York, New York 10036 
Office: (646) 893-5835 
Email: info@skylineccg.com 

FAQ

How much did Cuprina Holdings (CUPR) raise in its IPO including over-allotment?

Cuprina Holdings raised total gross proceeds of $13.8 million, consisting of $12 million from the initial IPO and $1.8 million from the over-allotment option at $4.00 per share.

What is Cuprina Holdings' (CUPR) main business focus?

Cuprina Holdings is a biomedical and biotechnology company that develops products for chronic wound management, infertility treatments, and cosmeceuticals for the health and beauty sector.

Who was the underwriter for Cuprina Holdings' (CUPR) IPO?

R. F. Lafferty & Co. acted as the sole book-running manager for Cuprina Holdings' IPO.

How many additional shares were sold through CUPR's over-allotment option?

Cuprina Holdings sold an additional 450,000 Class A ordinary shares through the exercise of the over-allotment option.

What was the IPO price for Cuprina Holdings (CUPR) shares?

The IPO price for Cuprina Holdings shares was $4.00 per share.