Hong Kong, July 15, 2022 (GLOBE NEWSWIRE) — Intelligent Living Application Group Inc. (Nasdaq: ILAG) (the “Company” or “Intelligent Living”), a premium lockset manufacturer in Hong Kong, today announced the closing of its initial public offering (the “Offering”) of 5,060,000 ordinary shares at a price of $4.00 per share.
The aggregate gross proceeds from the Offering were $20.24 million, before deducting underwriting discounts and other related expenses. The ordinary shares began trading on The Nasdaq Capital Market on July 13, 2022 under the ticker symbol “ILAG.”
The Offering was conducted on a firm commitment basis. Network 1 Financial Securities, Inc. acted as sole book runner and lead underwriter for the Offering.
A registration statement on Form F-1 relating to the Offering has been filed with the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-248684) and was declared effective by the SEC on July 12, 2022. The Offering was made only by means of a final prospectus. A final prospectus relating to the Offering was filed with the SEC on July 14, 2022, which may be obtained from Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241, Red Bank, NJ 07701, Attention: Adam Pasholk by email at adampasholk@netw1.com or Karen (Huiyun) Mu, by email at kmu@netw1.com, or by calling +1 (800)-886-7007. In addition, a copy of the final prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.
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