SINGAPORE, April 18,
2024 /PRNewswire/ -- Tungray Technologies
Inc ("Tungray" or the "Company" or "Tungray")
(NasdaqCM: TRSG), a provider of customized industrial manufacturing
solutions to Original Equipment Manufacturers (OEMs) in the
semiconductors, printers, electronics, and home appliances
industries, today announced the pricing of its initial public
offering (the "Offering") of 1,250,000 Class A ordinary shares at a
public offering price of $4 per Class
A ordinary share, for total gross proceeds of approximately
$5 million, before deducting
underwriting discounts and commissions and offering expenses. The
Offering is being conducted on a firm commitment basis. The Class A
ordinary shares are expected to commence trading on Nasdaq Capital
Market under the ticker symbol "TRSG" on April 19, 2024.
The Company has granted the underwriter of
the Offering an option, exercisable within 45 days from the
effective date of the Company's registration statement, to purchase
up to an additional 187,500 Class A ordinary shares at the public
offering price, less underwriting discounts and commissions. The
Offering is expected to close on April 23,
2024, subject to customary closing conditions.
US Tiger Securities, Inc. is acting
as sole book runner for the
Offering. Robinson & Cole LLP is acting as U.S.
counsel to the Company. VCL Law LLP is acting as U.S. counsel to
the underwriter with respect to the Offering.
A registration statement on Form F-1, as
amended (File No. 333-270434), relating to the
Offering was previously filed with the Securities and Exchange
Commission ("SEC") by the Company, and subsequently declared
effective by the SEC on March 28,
2024. The Offering is being made only by means
of a prospectus, forming a part of the registration statement. A
final prospectus relating to the Offering will be filed with the
SEC and will be available on the SEC's website at
www.sec.gov. Electronic copies of the final prospectus
related to the Offering may be obtained, when available, from US
Tiger Securities, Inc., 437 Madison Avenue, 27th Floor,
New York, New York 10022, or by
telephone at +1 646-978-5188.
Before you invest, you should read the
final prospectus and other documents the Company has filed or will
file with the SEC for more complete 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 Tungray Technologies
Inc
Tungray Technologies Inc is an
engineer-to-order ("ETO") company that provides customized
industrial manufacturing solutions to OEMs in the semiconductors,
printers, electronics, and home appliances industries. With
research, development and manufacturing bases in Singapore and China, Tungray designs, develops, and delivers
a wide range of industrial products ranging from customized
manufacturing machineries, direct drive and linear direct current
motors, to induction welding equipment. As an ETO company with more
than two decades of experience, Tungray takes pride in its ability
to deliver quality customized industrial solutions that fulfil its
customers' unique needs and specifications. For more information,
visit the Company's website at http://tungray.tech/.
Forward-Looking
Statements
All statements other than statements of
historical fact in this announcement are forward-looking
statements, including but not limited to, the Company's proposed
Offering and the listing of its securities. These forward-looking
statements involve known and unknown risks and uncertainties and
are based on current expectations and projections about future
events and financial trends that the Company believes may affect
its financial condition, results of operations, business strategy
and financial needs, including the expectation that the Offering
will be successfully completed. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update 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 in its
other filings with the SEC.
For more information, please
contact:
Investor
Relations:
Sherry Zheng
Weitian Group LLC
Phone:
718-213-7386
Email:
shunyu.zheng@weitian-ir.com
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SOURCE Tungray Technologies Inc