Multi Ways Holdings Limited Announces Closing of Initial Public Offering
05 April 2023 - 10:05PM
Multi Ways Holdings Limited (“Multi Ways” or the “Company”) (NYSE
American: MWG), a leading supplier of a wide range of heavy
construction equipment for sales and rental in Singapore and the
surrounding region, today announced the closing of its initial
public offering of 7,240,000 ordinary shares at a public offering
price of $2.50 per share. Multi Ways offered 6,040,000 ordinary
shares, and a certain selling shareholder offered 1,200,000
ordinary shares.
The Company’s ordinary shares began trading on
the NYSE American on April 3, 2023, under the ticker symbol
"MWG."
Spartan Capital Securities, LLC is acting as the
book-running manager, with Pacific Century Securities, LLC as
co-manager for the offering.
Ortoli Rosenstadt LLP is acting as U.S. counsel
to Multi Ways, and Sichenzia Ross Ference LLP is acting as U.S.
counsel to Spartan Capital Securities, LLC.
A registration statement on Form F-1, as amended
(File No. 333-269641), was filed with the United States Securities
and Exchange Commission (“SEC”) and was declared effective on March
30, 2023. Copies of the final prospectus, when available, will be
filed with the SEC and will be available on the SEC's website at
www.sec.gov and may be obtained from: Spartan Capital Securities,
LLC, Attn.: Prospectus Department, 45 Broadway, 19th Floor, New
York, NY 10006, by telephone at (212) 293-0123 or by email at
investmentbanking@spartancapital.com.
This press release shall not constitute an offer
to sell or the 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 registration or qualification under the
securities laws of any such state or jurisdiction.
About Multi Ways Holdings
LimitedMulti Ways Holdings is a supplier of a wide range
of heavy construction equipment for sales and rental in Singapore
and the surrounding region. With more than two decades of
experience in the sales and rental of heavy construction equipment
business, the Company is widely established as a reliable supplier
of new and used heavy construction equipment to customers from
Singapore, Australia, UAE, Maldives, Indonesia, and the
Philippines. With our wide variety of heavy construction equipment
in our inventory and complementary equipment refurbishment and
cleaning services, Multi Ways is well-positioned to serve customers
as a one-stop shop. For more information, visit
www.multiwaysholdings.com.
Safe Harbor StatementThis press
release contains forward-looking statements. In addition, from time
to time, we or our representatives may make forward-looking
statements orally or in writing. We base these forward-looking
statements on our expectations and projections about future events,
which we derive from the information currently available to us.
Such forward-looking statements relate to future events or our
future performance, including: our financial performance and
projections; our growth in revenue and earnings; and our business
prospects and opportunities. You can identify forward-looking
statements by those that are not historical in nature, particularly
those that use terminology such as “may,” “should,” “expects,”
“anticipates,” “contemplates,” “estimates,” “believes,” “plans,”
“projected,” “predicts,” “potential,” or “hopes” or the negative of
these or similar terms. In evaluating these forward-looking
statements, you should consider various factors, including: our
ability to change the direction of the Company; our ability to keep
pace with new technology and changing market needs; and the
competitive environment of our business. These and other factors
may cause our actual results to differ materially from any
forward-looking statement. Forward-looking statements are only
predictions. The forward-looking events discussed in this press
release and other statements made from time to time by us or our
representatives, may not occur, and actual events and results may
differ materially and are subject to risks, uncertainties, and
assumptions about us. We are not obligated to publicly update or
revise any forward-looking statement, whether as a result of
uncertainties and assumptions, the forward-looking events discussed
in this press release and other statements made from time to time
by us or our representatives might not occur.
Company
Contact:ir@multiwaysholdings.com
Investor Relations
Contact:Matthew Abenante, IRCPresidentStrategic Investor
Relations, LLC Tel: 347-947-2093Email: matthew@strategic-ir.com
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