Knorex Ltd Announces Closing of $12 Million Initial Public Offering

Rhea-AI Summary

Knorex (NYSE American: KNRX), an AI-driven digital advertising solutions provider, has successfully completed its Initial Public Offering (IPO) of 3,000,000 Class A ordinary shares at $4.00 per share, raising gross proceeds of $12.0 million before deductions.

The company began trading on the NYSE American on September 29, 2025, under the symbol "KNRX". The underwriters, led by R. F. Lafferty & Co. Inc., have a 45-day option to purchase up to 450,000 additional shares to cover over-allotments. The IPO was conducted on a firm commitment basis with Craft Capital Management LLC serving as co-manager.

Positive

• Successfully raised $12.0 million in gross proceeds through IPO
• Achieved NYSE American listing, providing enhanced visibility and access to capital markets
• 45-day option granted to underwriters for additional 450,000 shares indicates confidence in demand

Negative

• Relatively small IPO size of $12 million may limit growth potential
• Share price of $4.00 positions the stock in the micro-cap category, which often faces higher volatility

Insights

IPO Financial Analyst

Knorex's $12M IPO provides modest capital infusion for AI advertising firm at $4.00 per share valuation.

Knorex has successfully completed its initial public offering raising $12 million through the issuance of 3 million Class A ordinary shares at $4.00 per share. This relatively modest IPO provides the AI-driven digital advertising company with growth capital while establishing a market presence on the NYSE American exchange under ticker KNRX.

The deal structure includes standard features like a 15% over-allotment option allowing underwriters to purchase an additional 450,000 shares. R.F. Lafferty led the offering as the book-running manager with Craft Capital Management as co-manager, indicating a smaller-scale IPO without major bulge-bracket involvement.

The $4.00 share price positions Knorex at the lower end of typical tech IPOs, suggesting a conservative valuation approach. This pricing strategy could reflect current market conditions, company-specific factors, or deliberate positioning to allow for potential upside in public trading. At this offering price, the company's implied valuation appears modest for an AI-focused advertising technology provider.

By securing public company status, Knorex gains additional funding channels, potential acquisition currency, and enhanced visibility in the competitive digital advertising landscape. The firm commitment underwriting structure provides certainty of capital compared to best-efforts alternatives. However, the $12 million raise represents relatively limited working capital that will require disciplined deployment to achieve meaningful operational expansion in the capital-intensive digital advertising space.

Sunnyvale and Singapore, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Knorex Ltd. (NYSE American:KNRX) (“Knorex” or the “Company”), a leading provider of AI-driven digital advertising products and solutions, today announced the closing of its initial public offering of an aggregate of 3,000,000 Class A ordinary shares (the “Shares”), all of which are being offered by Knorex at a public offering price of $4.00 per share (the “Offering”), for aggregate gross proceeds of $12.0 million, prior to deducting underwriting discounts and other offering expenses.

In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 450,000 Class A ordinary shares at the initial public offering price, representing 15% of the Shares sold in the Offering, less underwriting discounts and commissions, to cover over-allotments.

The Company’s Class A ordinary shares began trading on the NYSE American on September 29, 2025, under the symbol “KNRX”. 

The Offering was conducted on a firm commitment basis. R. F. Lafferty & Co. Inc. acted as the lead book-running manager, and Craft Capital Management LLC acted as co-manager for the Offering. Morgan, Lewis & Bockius acted as legal counsel to the Company and Hunter Taubman Fischer & Li LLC acted as legal counsel to the underwriters in connection with the Offering.

The Offering was conducted pursuant to the Company’s Registration Statement on Form F-1, as amended, (File No. 333-283112) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on September 29, 2025. The Offering was 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’s Website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from R. F. Lafferty & Co. Inc., 40 Wall Street, Suite 3602, New York, NY 10005; (212) 293-9090.

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 any securities, and no sale of these securities may be made 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 other jurisdiction.

About Knorex Ltd.

Founded in 2009, Knorex Ltd. is a B2B technology company that provides AI-driven marketing automation and digital advertising solutions to help businesses simplify and optimize their digital marketing execution. The Company's flagship platform, Knorex XPO^sm, is an AI-powered, cloud-based advertising technology platform that enables marketers to efficiently plan, execute, and optimize cross-channel ad campaigns across a diverse range of digital media, including social media, search, CTV/OTT, video, audio, display, native, and DOOH advertising.

By leveraging advanced AI/ML-driven automation, Knorex XPO allows advertisers to enhance campaign performance, reduce wasted ad spend, and scale their marketing efforts while maintaining efficiency and transparency. The platform is designed to address the growing complexity in digital marketing by centralizing campaign execution and analytics into a unified, data-driven workflow.

Knorex serves global enterprises, agencies, and brands across multiple industries, helping them navigate the rapidly evolving digital advertising landscape with automated, intelligent, and data-driven solutions. The Company has operations in the United States, Vietnam, India, Malaysia, and Singapore.

For additional information, please visit www.knorex.com.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release are “forward-looking statements” as defined under the federal securities laws, including, but not limited to, the Company’s expectations regarding the completion, timing and size of the proposed Offering and statements regarding the use of proceeds from the sale of the Company’s shares in the 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 “believe,” “plan,” “expect,” “intend,” “should,” “seek,” “estimate,” “will,” “aim,” and “anticipate,” or other similar expressions in this press release. 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.

Contact:

Crescendo Communications, LLC
212-671-1020
KNRX@crescendo-ir.com

FAQ

How much did Knorex (KNRX) raise in its IPO?

Knorex raised $12.0 million in gross proceeds through its IPO by offering 3,000,000 Class A ordinary shares at $4.00 per share.

When did Knorex (KNRX) stock begin trading on NYSE American?

Knorex began trading on the NYSE American on September 29, 2025, under the symbol KNRX.

Who were the underwriters for Knorex's IPO?

R. F. Lafferty & Co. Inc. acted as the lead book-running manager, with Craft Capital Management LLC serving as co-manager for the IPO.

What is the over-allotment option in Knorex's IPO?

The underwriters have a 45-day option to purchase up to an additional 450,000 Class A ordinary shares at the IPO price of $4.00 per share.

What business is Knorex (KNRX) in?

Knorex is a provider of AI-driven digital advertising products and solutions.