Skk Holdings Limited Announces Closing of $10.0 Million Initial Public Offering
09 Octobre 2024 - 7:45PM
SKK Holdings Limited (“SKK” or the “Company”) (Nasdaq: SKK), a
civil engineering service provider that specializes in subsurface
utility works in Singapore, today announced the closing of its
previously announced initial public offering (the “Offering”) of an
aggregate 2,500,000 ordinary shares at a public offering price of
$4.00 per share for total gross proceeds of $10.0 million, before
deducting underwriting discounts and offering expenses. The Company
sold 1,750,000 ordinary shares and selling shareholders sold an
aggregate of 750,000 ordinary shares. The Company did not receive
any proceeds from the sale of shares by the selling shareholders.
The shares began to trade on the Nasdaq Capital
Market on October 8, 2024, under the ticker symbol “SKK.” The
Company received aggregate net proceeds of approximately $5.26
million, after deducting discounts, expenses and expense
allocations. Proceeds of the Offering will be used to expand and
renew the Company’s fleet of equipment and vehicles, expand its
operational facilities, for debt repayment, to explore other
business expansion opportunities, and for general working
capital.
Bancroft Capital, LLC acted as sole underwriter
for the Offering. Troy Gould PC acted as U.S. legal counsel to the
Company, and Taft Stettinius & Hollister LLP acted as U.S.
legal counsel to Bancroft Capital, LLC.
The Offering was conducted pursuant to the
Company’s registration statement on Form F-1 related to the
Offering, as amended (File No. 333-276744), which was filed with
the United States Securities and Exchange Commission (the “SEC”)
and was declared effective on September 18, 2024. The
Offering was made only by means of a prospectus forming a part of
the registration statement. Copies of the final prospectus relating
to the Offering may be obtained by visiting the SEC’s website
located at http://www.sec.gov or by contacting Bancroft Capital,
LLC, 501 Office Center Drive, Suite 130, Fort Washington, PA 19034,
Attention: Jason Diamond or email:
investmentbanking@bancroft4vets.com or by telephone at
484-546-8000.
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 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 SKK Holdings Limited
SKK Holdings Limited is a civil engineering
service provider that specializes in subsurface utility works in
Singapore. We seek to plan, construct and maintain various public
works and infrastructure projects that serve the society and the
environment. We have over 10 years of experience in providing civil
engineering services to our customers in Singapore in numerous
public utility projects, including but not limited to power and
telecommunication cable laying works, water pipeline works and
sewer rehabilitation works.
Safe Harbor Statement
This press release contains forward-looking
statements that reflect our current expectations and views of
future events. Known and unknown risks, uncertainties and other
factors, including those listed under “Risk Factors” in the
registration statement on Form F-1 related to the Offering, may
cause our actual results, performance or achievements to be
materially different from those expressed or implied by the
forward-looking statements. You can identify some of these
forward-looking statements by words or phrases such as “may,”
“will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,”
“plan,” “believe,” “is/are likely to,” “potential,” “continue” or
other similar expressions. We have based these forward-looking
statements largely on our current expectations and projections
about future events that we believe may affect our financial
condition, results of operations, business strategy and financial
needs. These forward-looking statements involve various risks and
uncertainties. Except as required by law, we undertake no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise, after the date on which the statements are made or to
reflect the occurrence of unanticipated events. We qualify all of
our forward-looking statements by these cautionary statements.
Contact:
SKK Holdings Limited Contact:Yee Yen HanChief
Financial OfficerTelephone +65 6334 3831skkcfo@skkworks.com.sg
Phaik Shya KoayFinancial ControllerTelephone +65
6334 3831kelly.koay@skkworks.com.sg
Underwriter Inquiries:Bancroft Capital, LLC, 501
Office Center Drive, Suite 130Fort Washington, PA 19034Email:
investmentbanking@bancroft4vets.com
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