OrangeKloud Technology Inc. Announces Closing of $13.1 Million Initial Public Offering

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SINGAPORE, July 26, 2024 (GLOBE NEWSWIRE) -- OrangeKloud Technology Inc.("ORKT” or "the Company”) today announced the closing of its previously announced initial public offering of an aggregate 2,750,000 Class A Ordinary Shares ("the Offering”) at a price of $4.75 per share ("the Offering Price”) to the public, for a total of approximately US$13.1 million of gross proceeds to the Company, before deducting underwriting discounts and offering expenses.

Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors” section of the preliminary prospectus filed with the SEC.

In addition, 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 412,500 Class A ordinary shares at the Offering Price, representing 15% of the Class A ordinary shares sold in the Offering ("the Overallotment”).

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Article Details

Author / Journalist: Orangekloud Technology Inc.

Category: Technology

Markets: ChinaCayman IslandsSingapore

Topics: KYG6781F1019 Nasdaq:ORKT

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 17:52:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 812 words

Reading Time: 5 minutes read

Sentences: 31 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 21786089

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