CHANGZHOU, China, Feb. 27,
2025 /PRNewswire/ -- STAK Inc. (the "Company")
(Nasdaq: STAK), a fast-growing company specializing in the
research, development, manufacturing, and sale of
oilfield-specialized production and maintenance equipment, today
announced the closing of its initial public offering (the
"Offering") of 1,250,000 ordinary shares at a public offering price
of US$4.00 per ordinary share. The
ordinary shares began trading on the Nasdaq Capital Market on
February 26, 2025, under the ticker
symbol "STAK."
The Company received aggregate gross proceeds of US$5 million from the Offering, before deducting
underwriting discounts and other related expenses. In addition, the
Company has granted the underwriters a 45-day option to purchase up
to an additional 187,500 ordinary shares, representing 15% of the
ordinary shares sold in the Offering, at the public offering price
less underwriting discounts.
The Offering was conducted on a firm commitment basis. Kingswood
Capital Partners, LLC acted as the representative of the
underwriters.
A registration statement on Form F-1 relating to the Offering
was filed with the Securities and Exchange Commission (the "SEC")
(File Number: 333-283258), as amended, and was declared effective
by the SEC on February 25, 2025. The
Offering was made only by means of a prospectus forming a part of
the registration statement. Copies of the prospectus relating to
the Offering may be obtained from Kingswood Capital Partners, LLC
at 7280 W Palmetto Park Rd., Suite 301, Boca Raton, FL 33433, or via email
at bherman@kingswoodus.com, or telephone at (561) 961-0505. In
addition, copies of the prospectus relating to the Offering may be
obtained via the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy any of the Company's securities,
nor shall such securities be offered or sold in the United States absent registration or an
applicable exemption from registration, nor shall there be any
offer, solicitation or sale of any of the Company's 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 such state or jurisdiction.
About STAK Inc.
STAK Inc. is a fast-growing company specializing in the
research, development, manufacturing, and sale of oilfield-specific
production and maintenance equipment. The Company designs and
manufactures oilfield-specialized production and maintenance
equipment, then collaborates with qualified specialized vehicle
manufacturing companies to integrate the equipment onto vehicle
chassis, producing specialized oilfield vehicles for sale.
Additionally, the Company sells oilfield-specialized equipment
components, related products, and provides automation solutions.
Its vision is to help oilfield services companies reduce costs and
increase efficiency by providing the cutting-edge integrated
oilfield equipment and automation solutions service. Its mission is
to become a powerful provider for the niche markets of specialized
oilfield vehicles and equipment in China. For more information, please visit the
Company's website at https://www.stakindustry.com/ir/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
find many (but not all) of these statements by the use of words
such as "may," "will," "expect," "anticipate," "aim," "estimate,"
"potential," "intend," "plan," "believe," "likely to" or other
similar expressions in this prospectus. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's registration statement and other filings with the
SEC.
For more information, please contact:
STAK Inc.
Investor Relations Department
Email: ir@stakindustry.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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SOURCE STAK Inc.
