Etoiles Capital Group Co., Ltd Announces Pricing of US$5.6 million Initial Public Offering

Rhea-AI Summary

Etoiles Capital Group (Nasdaq: EFTY), a Hong Kong-based financial services firm, has announced the pricing of its initial public offering of 1,400,000 Class A ordinary shares at $4.00 per share. The company expects to raise gross proceeds of $5.6 million from the offering.

Trading is set to commence on August 8, 2025, on the Nasdaq Capital Market under the ticker symbol "EFTY". The underwriters have a 45-day option to purchase up to an additional 210,000 shares. The IPO is expected to close around August 11, 2025, with proceeds targeted for business expansion, technology infrastructure, strategic marketing, and general corporate purposes.

Positive

• IPO successfully priced at $4.00 per share with expected gross proceeds of $5.6 million
• Listing on Nasdaq Capital Market provides access to broader investor base
• Additional 210,000 shares option granted to underwriters could increase total proceeds
• Clear allocation plan for proceeds focusing on growth and infrastructure

Negative

• Relatively small IPO size of $5.6 million may limit growth potential
• Potential dilution if underwriters exercise their option for additional shares

Insights

IPO Specialist

Hong Kong-based Etoiles Capital raising modest $5.6M in Nasdaq IPO at $4 per share, signaling cautious market entry with potential liquidity challenges.

Etoiles Capital's $5.6 million IPO represents an unusually small public offering in today's market. With just 1.4 million Class A ordinary shares priced at $4.00 each, this Hong Kong financial services firm is taking a minimalist approach to public markets. The pricing at $4.00 places it at the very low end of Nasdaq listings, potentially indicating limited institutional interest or conservative underwriter assessment.

The offering structure includes a 45-day option for underwriters to purchase an additional 210,000 shares (15% of the base offering), which is standard practice but may face challenges in execution given the small float. Prime Number Capital serving as the sole book-runner further suggests a limited distribution network for these shares.

The company's stated use of proceeds - business expansion, technology infrastructure, and marketing - provides little specific direction on capital allocation priorities. This generic description offers minimal insight into Etoiles' strategic roadmap or competitive differentiation in the financial services sector.

The extremely small float creates potential for significant volatility once trading begins. With such limited liquidity, even modest trading interest could produce substantial price movements. This characteristic makes the stock potentially attractive to short-term traders but challenging for institutional investors requiring position sizing and exit capability.

Given Hong Kong's complex regulatory environment and the relatively small capital raise, investors should closely monitor how effectively Etoiles can deploy this capital while navigating compliance requirements across multiple jurisdictions. The modest size of this offering suggests either capital efficiency or potential need for additional funding rounds in the near future.

HONG KONG, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Etoiles Capital Group Co., Ltd (Nasdaq: EFTY), a Hong Kong-headquartered financial services firm, today priced its initial public offering (the “Offering”) of 1,400,000 Class A ordinary shares at $4.00 per share. The Class A ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on August 8, 2025 under the ticker symbol “EFTY.”

The Company expects to receive aggregate gross proceeds of US$5.6 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 210,000 Class A ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about August 11, 2025, subject to the satisfaction of customary closing conditions.

Proceeds from the Offering will be used for business expansion, technology infrastructure, strategic marketing, and general corporate purposes.

The Offering was conducted on a firm commitment basis. Prime Number Capital, LLC acted as representative underwriter and sole book- runner for the Offering. Loeb & Loeb LLP acted as the U.S. counsel to the Company, Ogier acted as the Cayman Islands counsel to the Company, and Ye & Associates, P.C. acted as the U.S. counsel to  the underwriting syndicate 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 (“SEC”) (File Number: 333-287302) and was declared effective by the SEC on August 7, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering was filed with the SEC on August 7, 2025, which may be obtained from Prime Number Capital, LLC, 12 E 49 St, Floor 27, New York, NY 10017, Attention: Shenghui Yang by email at ecm@pncps.com, or by calling +1(347) 329-1575. In addition, copies of the 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.

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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 identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. 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.

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About Etoiles Capital Group Co., Ltd
Etoiles Capital Group Co., Ltd (Nasdaq: EFTY) is a Cayman Islands holding company operating through its Hong Kong subsidiary, Etoiles Consultancy Limited. The Company provides comprehensive financial advisory, capital markets services, and integrated solutions—including corporate financing, initial public offering consulting, and investor relations—to clients navigating global capital markets.

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Contacts
Issuer Inquiries
Etoiles Capital Group Co., Ltd
Room 1109, 11/F, Tai Yau Building
181 Johnston Road, Wanchai, Hong Kong
Tel: +852 2398 8699 | Email: ir@etoilesfin.com

Underwriter Inquiries
Prime Number Capital, LLC
27F, 12E 49th Street, New York, NY 10017
Tel: (347) 329-1575 | Email: info@pncp.com

FAQ

When will Etoiles Capital Group (EFTY) start trading on Nasdaq?

Etoiles Capital Group will begin trading on the Nasdaq Capital Market on August 8, 2025 under the ticker symbol 'EFTY'.

How much money is Etoiles Capital Group (EFTY) raising in its IPO?

Etoiles Capital Group is raising $5.6 million in gross proceeds through an offering of 1,400,000 Class A ordinary shares priced at $4.00 per share.

What will Etoiles Capital Group use the IPO proceeds for?

The company will use the proceeds for business expansion, technology infrastructure improvements, strategic marketing initiatives, and general corporate purposes.

Who are the underwriters for the Etoiles Capital Group IPO?

Prime Number Capital, LLC is acting as the representative underwriter and sole book-runner for the offering.

What is the underwriter's option in the Etoiles Capital Group IPO?

The underwriters have a 45-day option to purchase up to an additional 210,000 Class A ordinary shares at the public offering price, less underwriting discounts.