FGI Industries closes IPO of 2.5M units at $6.00; net proceeds ~$12.5M

FGI Industries Ltd.

IPO of 2,500,000 units priced at $6.00/unit; each unit consists of one ordinary share and one warrant.
Ordinary shares and warrants trade separately on Nasdaq under 'FGI' and 'FGIWW' respectively.
Warrants immediately exercisable at $6.00/share for five years; underwriters exercised full option for 375,000 additional warrants.
Net proceeds estimated at $12.5M after underwriting discounts and offering expenses.
Underwriters: The Benchmark Company (lead) and Northland Capital Markets (joint book-runner).

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