SU Group Holdings Limited (Nasdaq: SUGP) ("SU Group" or the "Company"), an integrated security-related engineering services company in
The gross proceeds to SU Group from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be $5.0 million. In addition, the Company has granted the underwriters a 30-day option from the closing of the offering to purchase up to an additional 187,500 shares of ordinary shares at the public offering price, less underwriting discounts, and issued to the underwriters warrants to purchase up to a total of 71,875 ordinary shares (5% of the number of ordinary shares sold in this offering) during the four and a half-year period commencing six months from the closing of the offering. The offering is expected to close on January 26, 2024, subject to the satisfaction of customary closing conditions. The shares are expected to begin trading on the Nasdaq Capital Market on January 24, 2024 under the symbol "SUGP."
The Benchmark Company, LLC is acting as sole book-running manager for the offering.
The Company expects to use the net proceeds from the sale of the shares to deepen its penetration of the security-related engineering services industry, strengthen development capability, enhance product offerings under the "SUNGATE" brand, expand security guarding services, improve operational efficiency and scalability, expand its related vocational training services, pursue strategic acquisitions and investment opportunities to fortify its market position, further enhance competitiveness in the security services industry, and address general working capital needs.
A registration statement relating to the securities being sold in this offering has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on December 29, 2023. This offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained, when available, from: The Benchmark Company, LLC,
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 the registration or qualification under the securities laws of any such state or jurisdiction.