Uni-Fuels Holdings Limited Announces Closing of Its Initial Public Offering
Rhea-AI Summary
Uni-Fuels Holdings, a Singapore-based marine fuel solutions provider, has announced the closing of its Initial Public Offering on January 15, 2025. The company successfully offered 2,100,000 Class A Ordinary Shares at $4.00 per share, raising gross proceeds of $8.4 million.
Trading commenced on the Nasdaq Capital Market under the ticker symbol 'UFG' on January 14, 2025. The underwriters have a 45-day option to purchase up to 315,000 additional shares. R. F. Lafferty & Co. served as the sole book-running manager for the firm commitment offering.
The company plans to use the proceeds to scale up reselling activities, strengthen its workforce, expand market presence in new geographical locations, and maintain cash reserves for general corporate purposes.
Positive
- Successfully completed IPO raising $8.4 million in gross proceeds
- Listed on Nasdaq Capital Market, providing enhanced visibility and liquidity
- Potential for additional $1.26 million through underwriter's option
- Clear growth strategy focused on market expansion and operational scaling
Negative
- Relatively small IPO size might limit immediate expansion capabilities
- Potential dilution from additional share option granted to underwriters
News Market Reaction 1 Alert
On the day this news was published, UFG gained 5.75%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SINGAPORE, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Uni-Fuels Holdings Limited (NASDAQ: UFG) (“Uni-Fuels” or the “Company”), a global provider of marine fuel solutions for shipping companies headquartered in Singapore, announced today the closing of its underwritten initial public offering (the “Offering”) of 2,100,000 Class A Ordinary Shares at a public offering price of
The Company has granted the Underwriters an option to purchase up to 315,000 additional Class A Ordinary Shares within 45 days of the effective date of the Company’s registration statement in relation to the Offering.
Uni-Fuels intends to use the proceeds from the Offering for scaling up its reselling activities to gain market share from existing and new markets; for strengthening its workforce and expanding its market presence in new geographical locations; and as cash reserve and general corporate purposes.
The Offering was conducted on a firm commitment basis. R. F. Lafferty & Co., Inc. acted as the sole book-running manager for the Offering.
A registration statement on Form F-1 relating to the shares being sold in the Offering was initially filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 28, 2024; and was declared effective by the SEC on January 10, 2025. This Offering was made only by means of a prospectus. A copy of the final prospectus relating to the Offering may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov, or alternatively, from: R. F. Lafferty & Co., Inc., 40 Wall Street, 27th Floor, New York, NY 10005; (212) 293-9090.
This press release shall not constitute an offer to sell or a 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 Uni-Fuels Holdings Limited
Uni-Fuels is a fast-growing global provider of marine fuel solutions, helping shipping companies optimize fuel procurement across all markets and time zones. Founded in 2021, Uni-Fuels has evolved from modest beginnings into a dynamic, forward-thinking company. Backed by a passionate team and a growing presence across multiple locations, it has forged trusted partnerships with customers, supporting them in achieving their operational objectives with confidence, from shore to shore.
For more information, visit www.uni-fuels.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the intended use of the proceeds. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent Uni-Fuels’ current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by 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.
Contact Information
For Investor Relations:
Uni-Fuels Holdings Ltd
Email: investors@uni-fuels.com
Skyline Corporate Communications Group, LLC
Email: info@skylineccg.com
FAQ
How much did Uni-Fuels Holdings (UFG) raise in its IPO?
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