TryHard Holdings Limited Announces Closing of Initial Public Offering

Rhea-AI Summary

TryHard Holdings (NASDAQ:THH), a Japanese lifestyle entertainment company, has successfully completed its Initial Public Offering (IPO). The company sold 1,525,000 ordinary shares at $4.00 per share, consisting of 1,067,500 shares from the company and 457,500 from selling shareholders. The total gross proceeds reached $7 million.

The underwriters exercised their 45-day over-allotment option to purchase an additional 228,750 shares. After deducting expenses, TryHard received net proceeds of approximately $2.7 million. The funds will be used for business development, marketing, strategic acquisitions, and working capital. Trading began on the Nasdaq Capital Market on August 28, 2025, under the symbol "THH".

Positive

• Successful IPO listing on NASDAQ Capital Market
• Full exercise of over-allotment option indicates strong demand
• Net proceeds of $2.7 million to fund growth initiatives
• Diversified business model across entertainment sectors

Negative

• Relatively small IPO size of $7 million gross proceeds
• Company received only $2.7 million after expenses and discounts
• Significant portion of shares (457,500) sold by existing shareholders

Insights

IPO Specialist

TryHard Holdings completed its IPO, raising $7M gross with shares now trading on Nasdaq under 'THH', though net proceeds were only $2.7M.

TryHard Holdings has successfully completed its IPO with shares now trading on the Nasdaq Capital Market under ticker symbol 'THH'. The offering consisted of 1,525,000 ordinary shares priced at $4.00 per share, raising approximately $7 million in gross proceeds.

Looking deeper at the structure, this was a mixed offering where the company itself offered 1,067,500 shares while existing shareholders sold 457,500 shares. The underwriters also exercised their full over-allotment option for an additional 228,750 shares.

What's particularly notable is that despite the $7 million headline figure, TryHard's actual net proceeds were approximately $2.7 million after deducting discounts, expenses, and allocations. This represents a substantial 61.4% reduction from the gross amount, which is higher than typical IPO cost ratios.

The company plans to use these proceeds for business development, marketing, potential strategic acquisitions or joint ventures, and general working capital. TryHard operates in the lifestyle entertainment sector in Japan, with diverse revenue streams including event curation, consultancy services, venue sub-leasing, and restaurant operations.

This capital raise, while modest by typical Nasdaq IPO standards, provides TryHard with public market access and a foundation for potential future growth initiatives in Japan's entertainment sector.

OSAKA, Japan, Aug. 29, 2025 (GLOBE NEWSWIRE) -- TryHard Holdings Limited ("TryHard" or the "Company"), a lifestyle entertainment company in Japan with principal businesses comprising of (i) event curation; (ii) consultancy and management services; (iii) sub-leasing of entertainment venues; and (iv) ownership and operation of restaurants, today announced the closing of its previously announced initial public offering (the “Offering”) of an aggregate 1,525,000 ordinary shares of par value $0.00002 per share (the “Ordinary Shares”), at a public offering price of $4.00 per share, of which 1,067,500 Ordinary Shares are offered by the Company and 457,500 Ordinary Shares are offered by certain selling shareholders, for total gross proceeds of approximately $7 million, before deducting underwriting discounts and offering expenses. The Company did not receive any proceeds from the sale of shares by the selling shareholders. The shares began trading on the Nasdaq Capital Market on August 28, 2025, under the ticker symbol “THH”.

The Company granted the underwriters a 45-day option to purchase up to 228,750 Ordinary Shares, equal to 15% of the total number of Ordinary Shares sold in this offering to cover over-allotments, which over-allotment was provided solely by the Company. The over-allotment option was exercised in full by the underwriters on August 28, 2025.

The Company received aggregate net proceeds of approximately $2.7 million, after deducting discounts, expenses and expense allocations, which includes proceeds from the over-allotment option. The Company plans to use proceeds of the Offering for (i) business development and marketing; (ii) strategic acquisitions and/or joint ventures and/or business cooperation; and (iii) working capital and general corporate purposes.

The Offering was conducted on a firm commitment basis. US Tiger Securities, Inc. acted as sole underwriter for the Offering. Troy Gould PC acted as U.S. securities counsel to the Company, and Winston & Strawn LLP acted as U.S. legal counsel to US Tiger Securities, Inc.

This Offering was being conducted pursuant to the Company’s registration statement on Form F-1, as amended (File No. 333-287751), which was filed with the United States Securities and Exchange Commission (the “SEC”) and was declared effective on August 27, 2025. The Offering of the securities was made only by means of a prospectus forming part of the registration statement. Electronic copies of the final prospectus relating to the Offering may be obtained by visiting the SEC’s website located at https://www.sec.gov/ or by contacting US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, NY 10022, USA, or email: ecm@ustigersecurities.com 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 TryHard Holdings Limited

As a lifestyle entertainment company in Japan, TryHard Holdings Limited aims to be on the cutting edge of the entertainment industry by introducing state-of-art technology, immersive storytelling, and bespoke experiences that are multi-sensory. The Company’s mission is to create unique entertainment experiences that captivate audiences, foster memorable connections, and leave a lasting impact. Principal businesses comprise of (i) event curation; (ii) consultancy and management services; (iii) sub-leasing of entertainment venues; and (iv) ownership and operation of restaurants.

By merging creativity, technology and hospitality expertise, TryHard strives to redefine the entertainment landscape in Japan and beyond. Commitment to innovation, quality, and customer satisfaction drives TryHard to continuously push boundaries and exceed expectations.

For more information, please visit the Company's website: https://tryhard.me/

Forward-Looking Statements

This press release contains forward-looking statements that reflect the current expectations and views of future events, all of which are subject to risks and uncertainties. Forward-looking statements give the Company’s current expectations or forecasts of future events. Investors can identify these statements by the fact that they do not relate strictly to historical or current facts. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may,” or other similar expressions in this prospectus. These statements are likely to address the Company’s growth strategy, financial results, and product and development programs. Investors should carefully consider any such statements and understand that many factors could cause actual results to differ from our forward-looking statements. These factors may include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company describes certain material risks, uncertainties, and assumptions that could affect the business, including financial condition and results of operations, under “Risk Factors.” The Company bases the forward-looking statements on the management’s beliefs and assumptions based on information available to the management at the time the statements are made. The Company cautions investors that actual outcomes and results may, and are likely to, differ materially from what is expressed, implied or forecast by our forward-looking statements. Accordingly, investors should not rely on any forward-looking statements when making an investment decision. Except as required under the federal securities laws, the Company does not have any intention or obligation to update publicly any forward-looking statements after the distribution of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

Contact: 

TryHard Holdings Limited Contact:
HBK Strategy Limited
ir@hbkstrategy.com  
+852 2156 0223

Underwriter Contact:
US Tiger Securities, Inc.
437 Madison Avenue, 27th Floor,
New York, NY 10022, USA
Email: ecm@ustigersecurities.com 

FAQ

What is TryHard Holdings' (THH) IPO price and how many shares were offered?

TryHard Holdings offered 1,525,000 ordinary shares at $4.00 per share, with an additional over-allotment of 228,750 shares.

How much money did TryHard Holdings (THH) raise in its IPO?

TryHard Holdings raised net proceeds of approximately $2.7 million after deducting discounts and expenses, from total gross proceeds of $7 million.

When did TryHard Holdings (THH) start trading on NASDAQ?

TryHard Holdings began trading on the Nasdaq Capital Market on August 28, 2025, under the ticker symbol 'THH'.

How will TryHard Holdings (THH) use its IPO proceeds?

TryHard will use the proceeds for business development, marketing, strategic acquisitions/joint ventures, and working capital.

What are TryHard Holdings' (THH) main business segments?

TryHard Holdings operates in event curation, consultancy and management services, sub-leasing of entertainment venues, and ownership/operation of restaurants.