Luda Technology Group Limited Announces Closing of the Underwriter’s Over-Allotment Option in Connection with its Initial Public Offering
Luda Technology Group (NYSE: LUD), a manufacturer of stainless steel and carbon steel flanges and fittings products, has announced the completion of its IPO over-allotment option. The company sold an additional 190,000 ordinary shares at $4.00 per share, generating extra proceeds beyond the initial IPO.
The total gross proceeds from the offering reached $10.76 million, which includes the previously announced IPO proceeds of $10 million, before deducting underwriting costs and offering expenses. Revere Securities served as the primary underwriter, with Pacific Century Securities as co-manager.
The offering was conducted under the company's Form F-1 registration statement, which was declared effective by the SEC on February 26, 2025.
Luda Technology Group (NYSE: LUD), un produttore di flange e raccordi in acciaio inossidabile e acciaio al carbonio, ha annunciato il completamento dell'opzione di sovrallocazione per la sua IPO. L'azienda ha venduto ulteriori 190.000 azioni ordinarie a $4,00 per azione, generando proventi aggiuntivi oltre l'IPO iniziale.
I proventi lordi totali dell'offerta hanno raggiunto $10,76 milioni, che includono i proventi dell'IPO precedentemente annunciati di $10 milioni, prima di dedurre i costi di sottoscrizione e le spese di offerta. Revere Securities ha svolto il ruolo di sottoscrittore principale, con Pacific Century Securities come co-manager.
L'offerta è stata condotta sotto la dichiarazione di registrazione Form F-1 dell'azienda, che è stata dichiarata efficace dalla SEC il 26 febbraio 2025.
Luda Technology Group (NYSE: LUD), un fabricante de bridas y accesorios de acero inoxidable y acero al carbono, ha anunciado la finalización de su opción de sobreasignación de la IPO. La compañía vendió 190,000 acciones ordinarias adicionales a $4.00 por acción, generando ingresos adicionales más allá de la IPO inicial.
Los ingresos brutos totales de la oferta alcanzaron $10.76 millones, que incluyen los ingresos de la IPO previamente anunciados de $10 millones, antes de deducir los costos de suscripción y los gastos de la oferta. Revere Securities actuó como el suscriptor principal, con Pacific Century Securities como coadministrador.
La oferta se realizó bajo la declaración de registro Form F-1 de la empresa, que fue declarada efectiva por la SEC el 26 de febrero de 2025.
Luda Technology Group (NYSE: LUD), 스테인리스 스틸 및 탄소강 플랜지 및 피팅 제품의 제조업체, IPO의 초과 배정 옵션 완료를 발표했습니다. 회사는 $4.00 per share에 추가로 190,000주를 판매하여 초기 IPO를 넘어서는 추가 수익을 창출했습니다.
이번 공모의 총 총 수익은 $10.76 million에 달하며, 이는 $10 million의 이전에 발표된 IPO 수익을 포함하며, 인수 비용 및 공모 비용을 공제하기 전의 금액입니다. Revere Securities가 주요 인수인으로 활동했으며, Pacific Century Securities가 공동 관리자 역할을 했습니다.
이번 공모는 회사의 Form F-1 등록 명세서에 따라 진행되었으며, SEC에 의해 2025년 2월 26일에 효력이 발생했습니다.
Luda Technology Group (NYSE: LUD), un fabricant de brides et de raccords en acier inoxydable et en acier au carbone, a annoncé l'achèvement de son option de surallocation d'IPO. L'entreprise a vendu 190 000 actions ordinaires supplémentaires à 4,00 $ par action, générant des revenus supplémentaires au-delà de l'IPO initiale.
Les recettes brutes totales de l'offre ont atteint 10,76 millions de dollars, ce qui inclut les recettes de l'IPO précédemment annoncées de 10 millions de dollars, avant déduction des frais de souscription et des frais d'offre. Revere Securities a été le souscripteur principal, avec Pacific Century Securities en tant que co-gestionnaire.
L'offre a été réalisée sous la déclaration d'enregistrement Form F-1 de l'entreprise, qui a été déclarée efficace par la SEC le 26 février 2025.
Luda Technology Group (NYSE: LUD), ein Hersteller von Flanschen und Fittings aus Edelstahl und Kohlenstoffstahl, hat den Abschluss seiner IPO-Überzeichnungsoption bekannt gegeben. Das Unternehmen hat zusätzlich 190.000 Stammaktien zu $4,00 pro Aktie verkauft und damit zusätzliche Einnahmen über die ursprüngliche IPO hinaus generiert.
Die gesamten Bruttoeinnahmen aus dem Angebot beliefen sich auf $10,76 Millionen, einschließlich der zuvor angekündigten IPO-Einnahmen von 10 Millionen Dollar, bevor die Underwriting-Kosten und Angebotskosten abgezogen wurden. Revere Securities fungierte als Hauptunterzeichner, während Pacific Century Securities als Co-Manager tätig war.
Das Angebot wurde unter dem Registrierungsstatement Form F-1 des Unternehmens durchgeführt, das von der SEC am 26. Februar 2025 für wirksam erklärt wurde.
- Successfully completed IPO with over-allotment option exercise
- Raised additional $760,000 through over-allotment option
- Total gross proceeds of $10.76 million from the offering
- Gross proceeds reported before deducting underwriting costs and expenses
Insights
Luda Technology's announcement about the partial exercise of the over-allotment option represents a positive market indicator for this newly public company. The underwriters sold an additional 190,000 shares at the $4.00 IPO price, generating $760,000 in additional capital beyond the initial $10 million raise.
The partial exercise of the greenshoe option (covering approximately 7.6% additional shares) signals moderate demand for LUD stock following its listing. This is particularly noteworthy as over-allotment options are typically exercised only when post-IPO trading shows sufficient strength to justify the additional share purchase rather than covering short positions in the open market.
For Luda Technology, a manufacturer of steel flanges and fittings, this additional capital injection strengthens their balance sheet during the critical early public company phase. While the size of the over-allotment ($760,000) is relatively modest compared to the overall $10.76 million raise, it provides incremental working capital that could support expansion efforts in their manufacturing operations.
The fact that underwriters opted for a partial rather than full exercise of their option suggests measured rather than overwhelming demand - indicating market reception was positive but not extraordinary. This balanced outcome aligns well with Luda's position as a smaller industrial manufacturer now finding its footing as a publicly-traded entity.
Hong Kong, April 07, 2025 (GLOBE NEWSWIRE) -- Luda Technology Group Limited (the “Company” or “Luda Technology”), (NYSE: LUD), a manufacturer and trader of stainless steel and carbon steel flanges and fittings products, today announced that it closed the sale of an additional 190,000 ordinary shares of the Company, pursuant to the partial 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
Revere Securities LLC (“Revere”), a full-service broker/dealer, acted as the primary underwriter for the Offering. Pacific Century Securities, LLC (“PCS”), a full-service broker/dealer, acted as the co-manager for the Offering. Loeb & Loeb LLP, CLKW Lawyers LLP in association with Michael Li & Co., China Commercial Law Firm and Conyers Dill & Pearman are acting as U.S., Hong Kong, PRC and Cayman Islands legal counsels to the Company, respectively. ZH CPA, LLC is acting as the reporting accountant of the Company. VCL Law LLP is acting as U.S. legal counsel to Revere and PCS for the Offering.
The Offering is being conducted pursuant to the Company’s registration statement on Form F-1 (File No. 333-283680), as amended, previously filed with, and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on February 26, 2025. The Offering is being made only by means of a prospectus, forming part of the registration statement. 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. Copies of the final prospectus related to the Offering may be obtained, when available, from Revere Securities LLC, 560 Lexington Ave 16th floor, New York, NY, 10022, by phone at +1 212 688 2350 or by email at syndicate@reveresecurities.com or Pacific Century Securities, LLC, 60-20 Woodside Avenue Ste 211, Queens, NY 11377, by phone at +1 212 970 8868 or by email at info@pcsecurities.us 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 shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, 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 Luda Technology Group Limited
We are a manufacturer and trader of stainless steel and carbon steel flanges and fittings products. Our history began with Luda Development Limited, which was incorporated in Hong Kong in 2004 and is principally engaged in the trading of steel flanges and fittings. In 2005, the Company’s business expanded further upstream when Luda (Taian) Industrial Company Limited was set up to commence the manufacturing of flanges and fittings with self-owned factory in China. We have established an operation history of over 20 years. We are principally engaged in (i) the manufacture and sale of stainless steel and carbon steel flanges and fittings products, and (ii) trading of steel pipes, valves, and other steel tubing products. We are headquartered in Hong Kong with manufacturing base in Taian City, Shandong Province of the PRC. Our sales network comprises customers from China, South America, Australia, Europe, Asia (excluding China) and North America and our customers comprise manufacturers and traders from the chemical, petrochemical, maritime and manufacturing industries. For more information, please visit https://www.ludahk.com/en.
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 Luda Technology Group 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.
For more information, please contact:
Luda Technology Group Limited Investor Relations Contact:
Unit H, 13/F, Kaiser Estate Phase 2,
47-53 Man Yue Street, Hung Hom, Kowloon,
Hong Kong SAR, China
Phone: (+852) 2994 8774
Email: ir@ludahk.com
Underwriters Inquiries:
Revere Securities LLC
560 Lexington Ave 16th floor, New York, NY, 10022
Phone: +1 212 688 2350
Email: syndicate@reveresecurities.com
Pacific Century Securities, LLC
Francis Ong, CEO – Investment Banking
60-20 Woodside Avenue Ste 211, Queens, NY 11377
Phone: +1 212 970 8868
Email: info@pcsecurities.us
FAQ
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