Wellchange Holding Company Limited Announces Pricing of $10 Million Public Offering of its Ordinary Shares
Rhea-AI Summary
Wellchange Holding Company (NASDAQ: WCT), a Hong Kong-based enterprise software solution services provider, has announced the pricing of its public offering of 25,000,000 ordinary shares at $0.40 per share. The offering is expected to generate gross proceeds of approximately $10 million before deducting placement agent fees and other expenses.
The offering is scheduled to close on January 17, 2025, subject to customary closing conditions. Revere Securities serves as the exclusive placement agent, while Pacific Century Securities, acts as advisor. The offering is being made pursuant to a registration statement declared effective by the SEC on January 14, 2025.
Positive
- Secured $10 million in gross proceeds through public offering
- Successfully completed registration with SEC for public offering
Negative
- Significant shareholder dilution through issuance of 25 million new shares
- Low share pricing at $0.40 indicates potential market weakness
News Market Reaction 1 Alert
On the day this news was published, WCT gained 14.38%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Hong Kong, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Wellchange Holding Company Limited (NASDAQ: WCT) (“Company” or the “Wellchange”), an enterprise software solution services provider headquartered in Hong Kong, today announced the pricing of its public offering (“Offering”) of 25,000,000 ordinary shares at a public offering price of
Gross proceeds, before deducting placement agent fees and other offering expenses, are expected to be approximately
Revere Securities LLC is acting as exclusive placement agent in connection with the Offering.
Pacific Century Securities, LLC is acting as advisor to the Company in connection with the Offering.
Ortoli Rosenstadt LLP is acting as counsel to the Company regarding U.S. securities law matters. Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel for the placement agent.
The securities described above are being offered pursuant to a registration statement on Form F-1, as amended (File No. 333-284034) (the “Registration Statement”), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 14, 2025. The Offering is being made only by means of a prospectus which is a part of the Registration Statement. A preliminary prospectus relating to the Offering has been filed with the SEC. Copies of the final prospectus relating to the Offering, when available, may be obtained from Revere Securities LLC, 560 Lexington Ave 16th floor, New York, NY 10022, at +1 (212) 688-2350.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Wellchange Holdings Company Limited
Wellchange Holdings Company Limited is an enterprise software solution services provider headquartered in Hong Kong. The Company conducts all operations in Hong Kong through its operating subsidiary, Wching Tech Ltd Co. The Company provides customized software solutions, cloud-based software-as-a-service (“SaaS”) platforms, and “white-label” software design and development services. The Company’s mission is to empower our customers and users, in particular, small and medium businesses, to accelerate their digital transformation, optimize productivity, improve customer experiences, and enable resource-efficient growth with our low-cost, user-friendly, reliable and integrated all-in-one Enterprise Resource Planning software solutions.
For more information, please visit the Company’s website: https://www.wchingtech.com/
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including the closing of the Offering, 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. 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. 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. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the SEC before making any investment decisions regarding the Company’s securities. 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.
For investor and media inquiries, please contact:
Wellchange Holdings Company Limited
Shek Kin Pong, CEO
Email: contactus@wchingtech.com
FAQ
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