Pitanium Limited Announces Closing of Initial Public Offering
Rhea-AI Summary
Positive
- Successful IPO listing on NASDAQ provides access to capital markets and enhanced visibility
- Strategic allocation of funds for product expansion and digital transformation through mobile app development
- Diversification into home treatment product line shows growth potential
- Underwriter's over-allotment option indicates confidence in the offering
Negative
- Relatively small IPO size of 1.75 million shares may limit market liquidity
- Multiple planned initiatives may strain resources and execution capabilities
- Competitive beauty and personal care market may challenge growth
News Market Reaction
On the day this news was published, PTNM gained 6.58%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
HONG KONG, June 02, 2025 (GLOBE NEWSWIRE) -- Pitanium Limited (Nasdaq: PTNM) (“Pitanium” or the “Company”), a company that retails its proprietary brand focusing on beauty and personal care products, announced today that it closed its initial public offering of 1,750,000 Class A ordinary shares (the “Class A Ordinary Shares”) at
Cathay Securities, Inc. acted as the sole underwriter to the Offering (the “Underwriter”). The Company granted the Underwriter a 45-day option to purchase up to 262,500 additional Class A Ordinary Shares, at US
The Class A Ordinary Shares began trading on the Nasdaq Capital Market on May 30, 2025, under the ticker symbol "PTNM."
Proceeds from the Offering will be used for: (i) enhancing customer experience through launching a mobile application; (ii) developing a new line of products solely for home treatment; (iii) expanding the Company’s product portfolio and exploring new suppliers; (iv) further enhancing the Company’s marketing strategies; and (v) working capital and other general corporate purposes.
Loeb Smith Attorneys, Loeb & Loeb LLP, TC & CO., and Tian Yuan Law Firm acted as British Virgin Islands legal counsel, U.S. legal counsel, Hong Kong legal counsel, and PRC legal counsel to the Company, respectively. VCL Law LLP acted as U.S. securities counsel for the Underwriter in connection to the Offering.
The Offering was conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333-284998) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on May 29, 2025. The Offering was made by means of a prospectus. Copies of the prospectus may be obtained, for free, by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the final prospectus related to the Offering may be obtained from Cathay Securities, Inc. at 40 Wall Street, Suite 3600, New York, NY 10005, or by telephone at +1 (855) 939-3888.
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 Pitanium Limited (“Pitanium”)
Pitanium Limited, incorporated in British Virgin Islands, is a retailer in Hong Kong focusing on the sale of its proprietary brand products in the field of beauty and personal care, namely PITANIUM and BIG PI online. It also generates revenue from the offline sale at six retail stores situated in Hong Kong’s premier shopping destinations. The Company emphasizes product design and development with an in-house product development team working closely with its original equipment manufacturing (“OEM”) and original design manufacturing (“ODM”) suppliers. It takes a proactive approach in expanding its product portfolio with a view to staying ahead of market trends and showcasing its ability to cater to the evolving needs of its customers. For more information, please refer to the Company’s website: http://www.pitanium.com/.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement 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. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Pitanium Limited
Investor Relations Department
Phone: +852 6297 5255
Email: US@pitanium.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1 646-932-7242
Email: investors@ascent-ir.com
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