Global Engine Group Holding Limited Announces Closing of $8 Million Initial Public Offering
24 September 2024 - 2:00AM
Global Engine Group Holding Limited (the “Company” or “GLE”), a
Hong Kong-headquartered integrated solutions provider in
information communication technologies (“ICT”), today announced the
closing of its initial public offering (the "Offering") of
2,000,000 ordinary shares (the "Ordinary Shares") at an initial
public offering price of $4.00 per share for total gross proceeds
of $8,000,000, before deducting underwriting discounts and other
offering expenses. The Offering closed on September 23, 2024, and
the Ordinary Shares began trading on Nasdaq Capital Market on
September 20, 2024, under the ticker symbol "GLE". The Company has
granted the underwriters an option, exercisable within 45 days from
the closing date of the Offering, to purchase up to an additional
300,000 Ordinary Shares at the initial public offering price, less
underwriting discounts, to cover over-allotments, if any.
The Offering was conducted on a firm commitment
basis. R.F. Lafferty & Co., Inc. (the “Underwriter”) acted as
the sole underwriter for the Offering. Robinson & Cole LLP
acted as U.S. counsel to the Company, and Winston & Strawn LLP
acted as U.S. counsel to the Underwriter, in connection with the
Offering.
The Company intends to use the proceeds from
this Offering for 1) brand promotion and marketing (25%); 2)
recruitment of talented personnel (25%); 3) strategic investments
and acquisitions (25%); and (4) general working capital (25%).
A registration statement on Form F-1 (File No.
333-266919) relating to the Offering, as amended, has been filed
with the U.S. Securities and Exchange Commission (the "SEC") and
was declared effective by the SEC on September 16, 2024. The
Offering is being made only by means of a prospectus. Copies of the
final prospectus related to the Offering may be obtained, when
available, from R. F. Lafferty & Co., Inc by email at
offerings@rflafferty.com or via standard mail to R. F. Lafferty
& Co., Inc, 40 Wall Street, 27th Floor, New York, NY 10005. In
addition, a copy of the final prospectus can also be obtained via
the SEC's website at www.sec.gov.
Before you invest, you should read the
prospectus and other documents the Company has filed or will file
with the SEC for more information about the Company and the
Offering. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy the securities described
herein, 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 Global Engine Group Holding
Limited
Global Engine Group Holding Limited is an
integrated solutions provider that operates via a wholly-owned
subsidiary incorporated in Hong Kong to deliver (i) ICT solution
services which include the cloud platform deployment, IT system
design and configuration, maintenance, data center colocation and
cloud services; (ii) technical services which include the technical
development, support, and outsourcing services for data center and
cloud computing infrastructure, mobility and fixed network
communications, as well as IoT projects; and (iii) project
management services which enhances productivity and collaboration
management and enables successful implementations and adoption of
solutions for customers, to drive business outcomes and innovation
for its customers. GLE’s target customer groups include: (i) small
to medium-sized telecom operators and ICT service providers seeking
expansion in Hong Kong and the South East Asian market; (ii) data
center and cloud computing services providers; and (iii)
Internet-of-things (“IoT”) solutions providers. For more
information, please visit: www.globalengine.com.hk;
ir.globalengine.com.hk/.
Forward-Looking Statement
This press release contains forward-looking
statements. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as "may, "will, "intend," "should," "believe,"
"expect," "anticipate," "project," "estimate" or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause actual results to differ materially
from the Company's expectations discussed in the forward-looking
statements. These forward-looking statements are subject to
uncertainties and risks including, but not limited to, the
uncertainties related to market conditions and other factors
discussed in the “Risk Factors” section of the registration
statement filed with the SEC. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
For more information, please
contact:UnderwritersR. F. Lafferty & Co., Inc.40 Wall
Street, 27th FloorNew York, NY 10005(212)
293-9090offerings@rflafferty.com
Investor RelationsWFS Investor Relations
Inc.Janice Wang, Managing PartnerEmail: services@wealthfsllc.com
Phone: +86 13811768599+1 628 283 9214
Global Engine (NASDAQ:GLE)
Historical Stock Chart
From Nov 2024 to Dec 2024
Global Engine (NASDAQ:GLE)
Historical Stock Chart
From Dec 2023 to Dec 2024