SU Group Holdings Limited Announces Closing of Initial Public Offering

HONG KONG, Jan. 26, 2024 /PRNewswire/ — SU Group Holdings Limited (Nasdaq: SUGP) (“SU Group” or the “Company”), an integrated security-related engineering services company in Hong Kong, 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 share. The ordinary shares began trading on the Nasdaq Capital Market on January 24, 2024 under the ticker symbol “SUGP.”

Gross proceeds to SU Group from the Offering were $5.0 million, before deducting underwriting discounts and commissions and other related expenses payable by the Company. 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 the Offering) during the four and a half-year period commencing six months from the commencement date of sales in 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.

The Benchmark Company, LLC acted as sole book-running manager for the Offering.

A registration statement on Form F-1 (File No. 333-275705) relating to the securities being sold in this Offering was filed with the U.S. Securities and Exchange Commission (SEC) and became effective on December 29, 2023. The Offering was made only by means of a prospectus. Copies of the final prospectus relating to the Offering may be obtained from: The Benchmark Company, LLC, 150 East 58th St., 17th Floor, New York, NY 10155, by telephone: (212) 312-6700, or by email at: [email protected]

This press release does 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.

About SU Group Holdings Limited

SU Group (Nasdaq: SUGP) is an integrated security-related services company that primarily provides security-related engineering services, security guarding and screening services, and related vocational training services in Hong Kong. Through its subsidiaries, SU Group has been providing turnkey services to the existing infrastructure or planned development of its customers through the design, supply, installation, and maintenance of security systems for over two decades. The security systems that SU Group provides services include threat detection systems, traffic and pedestrian control systems, and extra-low voltage systems in private and public sectors, including commercial properties, public facilities, and residential properties in Hong Kong. For more information visit www.sugroup.com.hk.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements, including with respect to the anticipated use of the net proceeds. No assurance can be given that the net proceeds of the offering will be used as indicated. 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 identify these forward-looking statements by words or phrases such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “should,” “will,” “could” and similar expressions. These statements are subject to uncertainties and risks including, but not limited to, the risk factors discussed in the “Risk Factors” section of the registration statement for the Offering filed with the SEC. 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 U.S. Securities and Exchange Commission. 

Contact:

Global IR Partners
David Pasquale
Phone: +1 914-337-8801
Email: [email protected]

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/su-group-holdings-limited-announces-closing-of-initial-public-offering-302045728.html

SOURCE SU Group Holdings Limited

大灣區經濟總量超13萬億

全國政協十四屆二次會議新聞發言人劉結一表示,粵港澳大灣區經濟總量超過13萬億人民幣,成為全球最具前景的增長極之一。

Alimentaria&Hostelco 2024 will have record international participation

BARCELONA, Spain, March 04, 2024 (GLOBE NEWSWIRE) — The lea

尼泊爾在珠峰攀登活動中引入定位晶片

新華社北京3月4日電 隨著春季登山季臨近,尼泊爾旅遊部門要求從該國一側攀登珠峰的人租賃並使用定位晶片,以便在不測事件發生時展開搜救。

中國首個“海上風電+海洋牧場”全年上網電量將超10億千瓦時

在距離山東省萊州市海岸11公里的國家級海洋牧場示範海域,坐落著中國首個“海上風電+海洋牧場”融合發展研究試驗專案。記者從國網萊州市供電公司獲悉,這一專案2024年前兩個月上網電量達1.8485億千瓦時,全年上網電量將突破10億千瓦時。

Värde Promotes Shannon Gallagher and Tony Iannazzo to Partner

NEW YORK and LONDON, March 04, 2024 (GLOBE NEWSWIRE) — Värd

CNH supports expanded rural connectivity in Latin America

CNH supports expanded rural connectivity in Latin America Th

Bitdeer Announces New 4nm Bitcoin Mining Chip SEAL01

SINGAPORE, March 04, 2024 (GLOBE NEWSWIRE) — Bitdeer Techno

相關文章

大灣區經濟總量超13萬億

全國政協十四屆二次會議新聞發言人劉結一表示,粵港澳大灣區經濟總量超過13萬億人民幣,成為全球最具前景的增長極之一。

【特刊】政府能如何更進一步?

仍然可以採取很多措施;但實際成效仍有待觀察。社會各有各說法,意見分歧。

澳門2024年GDP預計按年增一成

澳門經濟財政司司長李偉農預計2024年澳門本地生產總值(GDP)按年實質增長率可達10.3%,恢復至2019年水平約九成。

澳門1月入境旅客量恢復至疫前水平83.5%

澳門統計暨普查局資料顯示,今年1月入境旅客按年增加一倍至2,861,609人次,恢復至2019年同期83.5%。1月錄得199,278人次國際旅客,恢復至2019年同期的66.4%。

【特刊】龍年嬰兒潮:1988 年和 2012 年(2000年除外)

2000年經濟衰退期間,圍繞龍寶寶的吉祥信念並沒有成功緩解父母對生育的擔憂。

政府公佈輕軌行車系統營運36.6億元合同判給結果

澳門政府將“輕軌東線之行車系統”判予三家實體合作經營,判給金額達澳門幣36.57億元(折合約4.6 億美元)。