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Shenzhen, China, April 04, 2025 (GLOBE NEWSWIRE) -- Lianhe Sowell International Group Ltd (Nasdaq: LHSW) (the “Company”), a provider of machine vision products and solutions applied in a wide range of businesses across industries in China, today announced the closing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares (the “Ordinary Shares”) at a public offering price of $4 per share for aggregate gross proceeds of $8 million, before deducting underwriting discounts and other offering expenses. The Ordinary Shares commenced trading on Nasdaq Capital Market on April 3, 2025, under the ticker symbol “LHSW”. The Offering closed on April 4, 2025.
The Company has granted the underwriters an option, exercisable within 30 days from the closing date of the Offering, to purchase up to an additional 300,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover over-allotments, if any.
The Company intends to use the net proceeds from the Offering for (i) investment in machine vision business, research and development for new products and relevant market expansion; (ii) expansion of the spray painting robot business, including the preliminary installation of production equipment and machineries of an in-house production and assembly line for production of Nine-Axis Linkage Spray Painting Robots; and (iii) general corporate purposes and working capital.
The Offering was conducted on a firm commitment basis. R.F. Lafferty & Co., Inc. acted as sole underwriter for the Offering. Robinson & Cole LLP acted as U.S. securities counsel to the Company, and Ellenoff Grossman & Schole LLP acted as U.S. counsel to the Underwriter, in connection with the Offering.
A registration statement on Form F-1 (File No. 333-279303) relating to the Offering, as amended, was previously filed with the U.S. Securities and Exchange Commission (the “SEC“) and was declared effective by the SEC on March 31, 2025. The Offering was made only by means of a prospectus. Copies of the prospectus related to the Offering may be obtained from R. F. Lafferty & Co., Inc. by standard mail to R. F. Lafferty & Co., Inc., 40 Wall Street, 27th Floor, New York, NY 10005, or via email at offerings@rflafferty.com or by telephone at +1 (212) 293-9090. In addition, a copy of the final prospectus relating to the Offering, dated April 2, 2025, can also be obtained via the SEC’s website at www.sec.gov.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.