Prestige Wealth Inc. Announces Pricing of Initial Public Offering – Prestige Wea… – Press Release

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Hong Kong, July 06, 2023 (GLOBE NEWSWIRE) — Prestige Wealth Inc. (the “Company” or “Prestige Wealth”), a wealth management and asset management services provider based in Hong Kong, today announced the pricing of its initial public offering (the “Offering”) of 1,000,000 ordinary shares at a public offering price of US$5.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected commence trading on July 6, 2023 under the ticker symbol “PWM.”

The Company expects to receive aggregate gross proceeds of US$5.00 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 150,000 ordinary shares at the public offering price after the closing of Offering, less underwriting discounts. The Offering is expected to close on or about July 10, 2023, subject to the satisfaction of customary closing conditions.

Proceeds from the Offering will be used for brand promotion, hiring of additional client relationship managers and employees, expansion of products and services, and general working capital.

The Offering is being conducted on a firm commitment basis. Revere Securities LLC and R.F. Lafferty & Co., Inc. (the “Underwriters”) are acting as the Underwriters for the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to the Company, and Loeb & Loeb LLP is acting as U.S. counsel to the Underwriters in connection with the Offering.

A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-267999) and was declared effective by the SEC on June 30, 2023. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, when available, may be obtained from Revere Securities LLC by email at…

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