Ispire Technology prices IPO of 2.7M shares at $7.00, raising $18.9M gross

Ispire Technology Inc.

IPO of 2,700,000 shares at $7.00 per share; gross proceeds ~$18.9M before expenses.
Shares began trading on Nasdaq Capital Market on April 4, 2023 under ticker ISPR.
Underwriters granted 45-day option to purchase up to 405,000 additional shares for over-allotments.
Proceeds: ~35% for Vietnam/US manufacturing, ~25% for R&D, ~20% for marketing, ~20% for working capital.
Two selling stockholders may offer up to 1,750,000 shares; company will not receive any proceeds.

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

Ispire Technology Inc. entered into Underwriting Agreement with US Tiger Securities, Inc. valued at 2,700,000 shares of common stock at $7.00 per share; gross proceeds approx. $18.9 million (effective 2023-04-03).

Action: entry
Agreement: underwriting
Counterparty: US Tiger Securities, Inc.
Value: 2,700,000 shares of common stock at $7.00 per share; gross proceeds approx. $18.9 million
Effective: 2023-04-03

Exact text from the filing

On April 3, 2023, Ispire Technology Inc. (the " Company ") entered into an underwriting agreement (the " Underwriting Agreement ") with US Tiger Securities, Inc., acting as representative of the underwriters (the " Representative "), a copy of which is attached as Exhibit 1.1 hereto and incorporated herein by reference.

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

Ispire Technology Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-028005

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