Alpha Technology Group Limited Announces Exercise of the Underwriter’s Over-Allotment Option
November 21 2023 - 9:51AM
Alpha Technology Group Limited (NASDAQ: ATGL) (the “Company” or
“Alpha”), an established cloud-based IT solution service provider
in Hong Kong, today announced that Prime Number Capital LLC, as
underwriter of the Company’s initial public offering (the
“Offering”), has fully exercised the over-allotment option (the
“Option”) to purchase an additional 262,500 Ordinary Shares at the
public offering price of $4.00 per share. As a result, the Company
has raised gross proceeds of $1,050,000, in addition to the
previously gross proceeds of approximately $7,000,000, before
deducting underwriting discounts and offering expenses, already
received in the Offering.
Prime Number Capital LLC acted as the sole
bookrunner for the Offering. Hunter Taubman Fischer & Li LLC
acted as U.S. counsel to the Company and Sichenzia Ross Ference
Carmel LLP acted as U.S. counsel to the underwriter, in connection
with the Offering.
A registration statement on Form F-1 (File No.
333-273289) relating to the Offering, as amended, has been filed
with the U.S. Securities and Exchange Commission (the "SEC") and
was declared effective by the SEC on October 30, 2023. The Offering
is being made only by means of a prospectus. The final prospectus
relating to the securities being offered in the Offering was filed
with the SEC on November 1, 2023. Copies of the final prospectus
related to the Offering may be obtained from Prime Number Capital
LLC by email at info@pncps.com or via standard mail to Prime Number
Capital LLC, 12 E 49th St, Floor 27, New York, NY10017. In
addition, a copy of the final prospectus can also be obtained via
the SEC's website at www.sec.gov.
Before you invest, you should read the
prospectus and other documents the Company has filed or will file
with the SEC for more 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 Alpha Technology Group
Limited
Alpha Technology Group Limited is a cloud-based
IT solution service provider in Hong Kong. The Company utilizes
analytic and programming skills, AI technologies and technological
know-hows to provide comprehensive solutions designed to optimize
business performance of its customers, help them meet various
industry-specific operational challenges and create new business
opportunities for the customers from a variety of industries,
including consulting, real estate, architectural design, carpark
management, electronic payment services, logistics, investments,
retail, textiles, wholesale and distribution, etc. Though its
subsidiaries Techlution Service Limited and Neural Sense Limited,
the Company provides (i) system development services, (ii) web and
mobile application development services, and (iii) in-house
developed OCR software with AI technology with a view to achieving
digitalization of customers’ business and operations. Alpha also
provides technological support, maintenance and NFT-related
services such as creation of NFT artwork, marketplace and
development of NFT-related games to customers. For more
information, please visit: https://techlution.io.
Forward-Looking Statement
This press release contains forward-looking
statements. 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. 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
uncertainties related to market conditions and the completion of
the initial public offering on the anticipated terms or at all, and
other factors discussed in the “Risk Factors” section of the
registration statement filed with the SEC. 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 SEC, 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:
UnderwritersPrime Number Capital
LLCEmail:info@pncps.com
Investor Relations
WFS Investor Relations Inc.Janice Wang, Managing PartnerEmail:
services@wealthfsllc.comPhone: +86 13811768599+1 628 283 9214
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