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HONG KONG, April 02, 2025 (GLOBE NEWSWIRE) -- Waton Financial Limited (“WTF” or the “Company”), a British Virgin Islands-incorporated holding company that provides securities brokerage and financial technology services primarily through its Hong Kong subsidiaries, Waton Securities International Limited and Waton Technology International Limited, today announced the closing of its initial public offering of 4,375,000 ordinary shares, no par value per share (the “Ordinary Shares”), at a public offering price of $4.00 per share (the “Offering”) on April 2, 2025 (the “Closing Date”). The gross proceeds of the Offering were $17,500,000, before deducting underwriting discounts and commissions and offering expenses. The Ordinary Shares began trading on the Nasdaq Capital Market under the ticker symbol “WTF” on April 1, 2025.
On the Closing Date, the Company also closed the sale of an additional 656,250 Ordinary Shares, pursuant to the full exercise of the over-allotment option granted to the underwriters in connection with the Offering, at the public offering price of $4.00 per share. As a result, the Company has raised additional gross proceeds of $2,625,000, before deducting underwriting discounts and offering expenses.
The Offering was conducted on a firm commitment basis. CATHAY SECURITIES, INC. acted as representative of the underwriters for the Offering, with Dominari Securities LLC acting as co-underwriter (collectively, the “Underwriters”). Carey Olsen Singapore LLP, Han Kun Law Offices LLP and Hunter Taubman Fischer & Li LLC acted as British Virgin Islands legal counsel, Hong Kong legal advisers and U.S. securities counsel, respectively, to the Company. Kaufman & Canoles, P.C. acted as U.S. securities counsel to the Underwriters for the Offering.
The Offering was conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333-283424) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on March 31, 2025. The Offering was made only by means of a final prospectus, copies of which may be obtained from Cathay Securities, Inc. at 40 Wall Street, Suite 3600, New York, NY 10005, or by telephone at +1 (855) 939-3888.
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 any securities, and no sale of these securities may be made 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 other jurisdiction.