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SINGAPORE, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Uni-Fuels Holdings Limited (NASDAQ: UFG) (“Uni-Fuels” or the “Company”), a global provider of marine fuel solutions for shipping companies headquartered in Singapore, announced today the closing of its underwritten initial public offering (the “Offering”) of 2,100,000 Class A Ordinary Shares at a public offering price of $4.00 per share, for total gross proceeds of $8.4 million to the Company before underwriting discounts and commissions. All of the Class A Ordinary Shares are offered by Uni-Fuels. The Offering closed on January 15, 2025 and the Class A Ordinary Shares commenced trading on Nasdaq Capital Market on January 14, 2025 under the ticker symbol “UFG.”
The Company has granted the Underwriters an option to purchase up to 315,000 additional Class A Ordinary Shares within 45 days of the effective date of the Company’s registration statement in relation to the Offering.
Uni-Fuels intends to use the proceeds from the Offering for scaling up its reselling activities to gain market share from existing and new markets; for strengthening its workforce and expanding its market presence in new geographical locations; and as cash reserve and general corporate purposes.
The Offering was conducted on a firm commitment basis. R. F. Lafferty & Co., Inc. acted as the sole book-running manager for the Offering.
A registration statement on Form F-1 relating to the shares being sold in the Offering was initially filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 28, 2024; and was declared effective by the SEC on January 10, 2025. This Offering was made only by means of a prospectus. A copy of the final prospectus relating to the Offering may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov, or alternatively, from: R. F. Lafferty & Co., Inc., 40 Wall Street, 27th Floor, New York, NY 10005; (212) 293-9090.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, 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.
About Uni-Fuels Holdings Limited
Uni-Fuels is a fast-growing global provider of marine fuel solutions, helping shipping companies optimize fuel procurement across all markets and time zones. Founded in 2021, Uni-Fuels has evolved from modest beginnings into a dynamic, forward-thinking company. Backed by a passionate team and a growing presence across multiple locations, it has forged trusted partnerships with customers, supporting them in achieving their operational objectives with confidence, from shore to shore.