Everbright Digital Holdings Limited Announces Closing of Partial Exercise of Over-Allotment Option
Rhea-AI Summary
Everbright Digital Holdings Limited (NASDAQ: EDHL) has announced the partial exercise of its over-allotment option, resulting in the issuance of 160,000 additional ordinary shares at US$4.00 per share, generating gross proceeds of approximately $640,000. The company, which began trading on the Nasdaq Capital Market on April 17, 2025, plans to use the proceeds for marketing expansion, R&D of core technologies, overseas business development, talent acquisition, and working capital.
The IPO was conducted on a firm commitment basis, with Dominari Securities LLC as the lead underwriter and Revere Securities LLC as co-underwriter. Pacific Century Securities, LLC served as an advisor to the company.
Positive
- Additional capital raised through over-allotment option ($640,000)
- Successful listing on Nasdaq Capital Market
- Clear allocation of funds for growth initiatives including R&D and business expansion
- Firm commitment underwriting structure indicating strong institutional support
Negative
- Relatively small offering size may limit impact on growth initiatives
- Additional share issuance leads to dilution for existing shareholders
News Market Reaction 1 Alert
On the day this news was published, EDHL gained 2.44%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
HONG KONG, May 22, 2025 (GLOBE NEWSWIRE) -- Everbright Digital Holdings Limited (the “Company” or “Everbright”) (Nasdaq: EDHL), an integrated marketing solutions provider headquartered in Hong Kong, today announced that it has issued an additional 160,000 ordinary shares (the “Ordinary Shares”) at a price of US
The Company expects to use the net proceeds from the Offering and the exercise of the over-allotment option for (i) marketing and business expansion; (ii) continued research and development of the Company’s core technologies; (iii) business development overseas; (iv) talent acquisition and training; and (v) for working capital.
The Offering was conducted on a firm commitment basis. Dominari Securities LLC acted as the lead underwriter and Revere Securities LLC acted as co-underwriter for the Offering. Pacific Century Securities, LLC acted as an advisor to the Company. Ortoli Rosenstadt LLP acted as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to the underwriters.
A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-285191) and was declared effective by the SEC on March 31, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from Dominari Securities LLC by email at info@dominarisecurities.com, by standard mail to Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor, New York, NY 10022, or by calling (212) 393-4500. In addition, copies of the final prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s 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 such state or jurisdiction.
About Everbright Digital Holding Limited
Everbright Digital Holding Limited is an integrated marketing solutions provider headquartered in Hong Kong. The Company conducts all operations in Hong Kong through its operating subsidiary, Hong Kong United Metaverse Limited. The Company is an integrated marketing solutions provider in Hong Kong that is deeply involved in the metaverse and related technologies, providing one-stop digital marketing services to support businesses through every stage of their development, including metaverse stimulation, virtual reality (VR) and augmented reality (AR) design and creation, creative event planning and management, IP character creation and social media marketing.
For more information, please visit the Company’s website: https://umeta.hk/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For investor and media inquiries, please contact:
Everbright Digital Holding Limited
Leung Chun Yip, CEO
Email: michael@umeta.hk
FAQ
What is the over-allotment option exercise price for EDHL shares?
How many additional shares did EDHL issue in the over-allotment option?
When did EDHL stock begin trading on Nasdaq?
How will EDHL use the proceeds from the over-allotment option?
Who was the lead underwriter for EDHL's IPO?
