Hong Kong, July 12, 2022 (GLOBE NEWSWIRE) — Intelligent Living Application Group Inc. (the “Company” or “Intelligent Living”), a premium lockset manufacturer in Hong Kong, today announced the pricing of its initial public offering (the “Offering”) of 5,060,000 ordinary shares at a price of $4.00 per share. The ordinary shares have been approved for listing on The Nasdaq Capital Market and are expected to commence trading on July 13, 2022 under the ticker symbol “ILAG.”
The aggregate gross proceeds from the Offering will be $20.24 million, before deducting underwriting discounts and other related expenses. The Offering is expected to close on or about July 15, 2022, subject to the satisfaction of customary closing conditions.
The Offering is being conducted on a firm commitment basis. Network 1 Financial Securities, Inc. is acting 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 is being made only by means of a final prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained, when available, 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…
