HomesToLife Ltd Announces Pricing of Initial Public Offering
Rhea-AI Summary
HomesToLife (HTLM) has announced the pricing of its initial public offering (IPO) of 1,250,000 ordinary shares at $4.00 per share. The company expects to raise $5 million in gross proceeds, before deducting underwriting costs and expenses. HTLM has also granted underwriters a 45-day option to purchase up to an additional 187,500 shares at the IPO price.
Shares are set to begin trading on the Nasdaq Capital Market under the ticker symbol 'HTLM' on October 1, 2024, with the offering expected to close on October 2, 2024. US Tiger Securities, Inc. is serving as the sole book-running manager for the IPO. The offering is being conducted pursuant to HTLM's Registration Statement on Form F-1, which was declared effective by the SEC on September 30, 2024.
Positive
- IPO expected to raise $5 million in gross proceeds
- Listing on Nasdaq Capital Market, potentially increasing visibility and liquidity
- 45-day over-allotment option for additional 187,500 shares, potentially increasing total proceeds
Negative
- Potential dilution of existing shareholders' ownership
- Underwriting costs and expenses will reduce net proceeds from the offering
- Stock price may be volatile following IPO due to market conditions and company performance
Insights
HomesToLife 's IPO pricing at
The listing on Nasdaq Capital Market under the ticker "HTLM" will increase visibility and potentially liquidity for investors. The over-allotment option of 187,500 additional shares could bring in extra capital if exercised. Investors should note that US Tiger Securities as the sole book-runner might limit the IPO's reach.
While the IPO provides an opportunity for retail investors to participate, caution is warranted. Small IPOs can be volatile and the company's financials and growth prospects should be carefully scrutinized in the prospectus before making any investment decisions.
The HomesToLife IPO reflects current market conditions for small-cap offerings. The
The company's choice of the Nasdaq Capital Market is strategic for smaller firms, offering lower listing requirements compared to the Nasdaq Global Market. This could indicate HTLM is in a growth phase but not yet at the scale of larger, more established companies.
Investors should consider the potential for dilution with the 45-day over-allotment option. If exercised, it would increase the float by
SINGAPORE, Sept. 30, 2024 (GLOBE NEWSWIRE) -- HomesToLife Ltd. (“HTLM” or the “Company”) today announced the pricing of its initial public offering of an aggregate of 1,250,000 ordinary shares (the “Offering”), all of which are being offered by HTLM at a public offering price of
In addition, the Company has granted the underwriters a 45-day option (the “Over-Allotment Option”) to purchase up to an additional 187,500 ordinary shares at the initial public offering price, less underwriting discounts and commissions. The gross proceeds to HTLM from the Offering (assuming that the Over-Allotment Option is not exercised), before deducting underwriting discounts and commissions and estimated offering expenses payable by HTLM, is expected to be
The shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol “HTLM” on October 1, 2024. The Offering is expected to close on October 2, 2024, subject to customary closing conditions.
US Tiger Securities, Inc. (“Tiger”) is the sole Book-Running manager for the Offering. Loeb & Loeb LLP is acting as U.S. legal counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as U.S. legal counsel to Tiger.
The Offering is being conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333-281693) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on September 30, 2024. The Offering is being made only by means of a prospectus. 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. You may get these documents for free by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Tiger at 437 Madison Avenue, 27th Floor, New York, New York 10022, or by telephone at +1 646-978-5188.
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 there be any 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 HomesToLife Ltd.
The Company’s wholly owned subsidiary and operating company, HomesToLife Singapore, is one of the leading home furniture retailers that offers and sells customized furniture solutions in Singapore. As of October 2024, it has six retail store locations. It has helped homeowners create living spaces that reflect their individuality since 2014. Its product offerings include leather and fabric upholstered furniture, case goods and accessories, and offers a one-stop shop for retail customers to furnish their homes. “HomesToLife” has a long-standing pledge to offer fair prices, great value, consistent and reliable quality, and on-time delivery to its customers. The Company’s website, www.homestolife.com, offers consumers a seamless shopping experience online and post-sales customer service support.
FORWARD-LOOKING STATEMENTS
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. 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, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other 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.
Contacts
HomesToLife Ltd. Contact:
6 Raffles Boulevard, #02-01/02
Marina Square, Singapore 039594
Email: investor@homestolife.com
Underwriter Inquiries:
US Tiger Securities, Inc.
437 Madison Avenue, FL 27
New York, NY 10022
Email: ECM@ustigersecurities.com
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
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