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Hong Kong, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Mint Incorporation Limited (Nasdaq: MIMI) (the “Company”), a Hong Kong-based interior design and fit out works provider, today announced the pricing of its initial public offering (the “Offering”) of 1,750,000 Class A ordinary shares (the “Class A Ordinary Shares”), at a price of $4.00 per Class A Ordinary Share (the “Offering Price”).
The Class A Ordinary Shares are expected to begin trading on the Nasdaq Capital Market on January 10, 2025 under the symbol “MIMI.” The Offering is expected to close on January 13, 2025, subject to the satisfaction of customary closing conditions.
The Company expects to receive aggregate gross proceeds of US$7 million from the Offering, before deducting the underwriting discounts and other related expenses. In addition, the Company has granted the Underwriters (as defined below) a 45-day option to purchase up to an additional 262,500 Class A Ordinary Shares of the Company, at the Offering Price, representing 15% of the Class A Ordinary Shares sold in the Offering (the “Over-allotment Option”).
Assuming that the Over-allotment Option is not exercised, the Company is expected to receive net proceeds amounting to $4.80 million, after deducting the underwriting discounts and commissions and estimated offering expenses, assuming the underwriters do not exercise their Over-allotment Option. The Company intends to use the net proceeds for increasing operating scale and expanding business and geographic coverage including the United States of America and the United Kingdom, potential strategic investment and acquisitions, upgrading IT services, and working capital and general corporate purposes.
The Offering is conducted on a firm commitment basis. Benjamin Securities, Inc. is acting as the representative of the underwriters, with Prime Number Capital, LLC acting as co-underwriter (collectively, the “Underwriters”) for the Offering. Ortoli Rosenstadt LLP is acting as U.S. securities counsel to the Company. Jun He Law Offices LLC is acting as legal counsel to the Underwriters in connection with the Offering.
The Offering is being conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333- 281922) previously filed with, and subsequently declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on December 20, 2024. The Offering is being made only by means of a prospectus. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, copies of the prospectus relating to the Offering may be obtained, when available, from Benjamin Securities, Inc. by email at info@benjaminsecurities.com, by standard mail to Benjamin Securities, Inc., 3 West Garden Street, Suite 407, Pensacola, FL 32502, or by telephone at +1 (516) 931-1090; or from Prime Number Capital, LLC by email at info@pncps.com, by standard mail to Prime Number Capital, LLC, 12 E 49 St, Floor 27, New York, NY 10017, or by telephone at +1 (516)717-5671.