Powerbridge Technologies Co., Ltd. Announces Pricing of Initial Public Offering
April 01 2019 - 8:11PM
via NEWMEDIAWIRE -- Powerbridge Technologies Co., Ltd.
(“
Powerbridge” or the “
Company”),
a global trade software application and technology services
provider, today announced the pricing of its initial public
offering (“
IPO” or the
“
Offering”) of its 1,750,000 ordinary shares, par
value US$0.00166667 per share (the “
Shares”), at
an offering price of $5.0 per share, for gross proceeds of
US$8,750,000. The Shares are expected to begin trading on the
NASDAQ Capital Market on April 2, 2019, under the symbol PBTS.
The Offering is expected to close on April 4,
2019 subject to customary closing conditions.
The Benchmark Company, LLC and Maxim Group LLC
are acting as joint book running managers for the Offering while
TriPoint Global Equities, LLC is the financial advisor to the
Company.
A registration statement on Form F-1 (File No.
333-229128) relating to the Shares was filed with
the Securities and Exchange Commission (“SEC”) and
is effective. A preliminary prospectus relating to the Offering has
been filed with the SEC and is available on the SEC's web site at
http://www.sec.gov.
The Offering is being made only by means of a
prospectus. Copies of the preliminary prospectus supplement and
accompanying prospectus may be obtained from The Benchmark Company,
LLC, Attn: Prospectus Department, 150 E 58th Street, 17th floor,
New York, NY 10155, 212-312-6700, Email:
prospectus@benchmarkcompany.com and the Maxim Group LLC 405
Lexington Avenue, 2nd Fl. New York, NY 10174 (212) 895-3500; or the
above-referenced SEC website.
About Powerbridge
Powerbridge Technologies Co., Ltd. is a provider
of software application and technology solutions and services to
corporate and government customers primarily located in China.
Founded in 1997, Powerbridge pioneered global trade software
applications with a vision to make global trade operations easier
for customers. Since inception, Powerbridge has continued to
innovate and deliver solutions and services to address the changing
needs of thousands of customers. Powerbridge’s mission is to make
global trade easier by empowering all players in the ecosystem.
Safe Harbor Statement
This press release contains forward-looking
statements as defined by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as “may, “will, “intend,” “should,” “believe,”
“expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements; specifically, the Company's
statements regarding listing on the NASDAQ Capital Market and the
IPO are forward-looking statements. Forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company’s expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company’s goals and strategies; the Company’s
future business development; product and service demand and
acceptance; changes in technology; economic conditions; reputation
and brand; the impact of competition and pricing; government
regulations; fluctuations in general economic and business
conditions in China and assumptions underlying or related to any of
the foregoing and other risks contained in reports filed by the
Company with the U.S. Securities and Exchange Commission. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the Company’s filings with the
U.S. Securities and Exchange Commission, which are available for
review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof.
For more information, please contact:
For Powerbridge:Powerbridge Technologies Co.,
Ltd.Stewart LorChief Financial OfficerEmail:
stewartlor@powerbridge.com
US Investor Relations:PCG Advisory, Inc.Vivian
CervantesPhone: 646-863-6274Email: vivian@pcgadvisory.com
China Investor Relations:Ascent Investor
Relations LLCTina Xiao Phone: +86-1360-111-9533 Email:
tina.xiao@ascent-ir.com
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