Maison Solutions closes $10M IPO of 2.5M shares at $4.00 on Nasdaq

Maison Solutions Inc.

Gross proceeds $10M; net proceeds ~$9M after underwriting discounts and offering costs.
Underwriters granted 45-day over-allotment option for up to 375,000 additional shares.
Proceeds to fund store acquisitions, JD.com system development, loan repayment, and online business.
125,000 Underwriter's Warrants issued, exercisable at $4.80 per share from Apr 2024 to Apr 2029.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Maison Solutions Inc. entered into Underwriting Agreement with Joseph Stone Capital, LLC valued at aggregate net proceeds of approximately $9 million (effective 2023-10-04).

Action: entry
Agreement: underwriting
Counterparty: Joseph Stone Capital, LLC
Value: aggregate net proceeds of approximately $9 million
Effective: 2023-10-04

Exact text from the filing

On October 4, 2023, Maison Solutions Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with Joseph Stone Capital, LLC (the “Underwriter”) in connection with the Company’s initial public offering (the “IPO”) of 2,500,000 shares of Class A common stock, par value $0.0001 (the “Common Stock”), at a price of $4.00 per share, less underwriting discounts and commissions.

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197 material agreements filed in the last 30 days. Browse all material agreements →

Maison Solutions Inc. filing history →

Source: SEC EDGAR

accession 0001013762-23-002898

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