HeartCore Provides Strong Go IPO Updates
March 16 2023 - 4:05PM
HeartCore Enterprises, Inc. (“HeartCore” or the
“Company”), a leading software development company
offering Customer Experience Management Platform (CXM Platform) and
Digital Transformation, announced it has made compelling progress
around its Go IPO consulting service offering.
As part of HeartCore’s previously announced fifth Go IPO win
with SBC Medical Group Holdings (“SBC”), SBC agreed to compensate
the Company an aggregate of $900,000 in initial fees, in addition
to warrants to acquire 2.7% of SBC’s common stock, on a fully
diluted basis. With SBC recently being valued at $1.2 billion,
HeartCore expects to receive warrants with an approximate value of
$32.4 million.
Additionally, HeartCore announced that it has entered into its
eighth and ninth Go IPO agreements with Libera Gaming Operations,
Inc. (“Libera”) and ICheck Co., Ltd. (“ICheck”), respectively.
Pursuant to the consulting agreements, HeartCore agreed to assist
Libera and ICheck in their efforts to go public and list on the
Nasdaq Stock Market (“Nasdaq”). Through Go IPO, the Company
services clients by assisting throughout the audit and legal firm
hiring process, translating requested documents into English,
assisting in the preparation of documentation for internal controls
required for an initial public offering or de-SPAC, providing
general support services, assisting in the preparation of the S-1
or F-1 filing, and more.
As compensation for its services, HeartCore expects to generate
from each of Libera and ICheck $600,000 in initial fees and a
warrant to acquire 3% of Libera and ICheck’s common stock on a
fully diluted basis, respectively.
"The recent valuation of SBC Medical Group translates to a grand
total of approximately $32.4 million in warrants for HeartCore,"
said Company CEO Sumitaka Yamamoto. "Though the initial fees we
receive from clients are helpful, we believe the warrants provide
exponentially greater value to our company. We are also very proud
of our eighth and ninth Go IPO wins and hope to garner the benefits
of our Go IPO flywheel effect as illustrated by SBC.”
About HeartCore Enterprises, Inc.Headquartered
in Tokyo, Japan, HeartCore Enterprises is a leading software
development company offering Software as a Service (SaaS) solutions
to enterprise customers in Japan and worldwide. The Company also
provides data analytics services that allow enterprise businesses
to create tailored web experiences for their clients through
best-in-class design. HeartCore’s customer experience management
platform (CXM Platform) includes marketing, sales, service and
content management systems, as well as other tools and
integrations, which enable companies to enhance the customer
experience and drive engagement. HeartCore also operates a digital
transformation business that provides customers with robotics
process automation, process mining and task mining to accelerate
the digital transformation of enterprises. Furthermore, HeartCore
offers “Go IPO,” a consulting service where it assists private
companies with uplisting onto the Nasdaq Stock Market. Additional
information about the Company’s products and services is available
at www.heartcore.co.jp and https://heartcore-enterprises.com/.
Forward-Looking StatementsAll statements other
than statements of historical facts included in this press release
are forward- looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. In some cases,
forward-looking statements can be identified by words such as
“believe,” “intend,” “expect,” “anticipate,” “plan,” “potential,”
“continue” or similar expressions. Such forward-looking statements
include risks and uncertainties, and there are important factors
that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. These
factors, risks, and uncertainties are discussed in HeartCore’s
filings with the Securities and Exchange Commission. Investors
should not place any undue reliance on forward-looking statements
since they involve known and unknown, uncertainties and other
factors which are, in some cases, beyond HeartCore’s control which
could, and likely will materially affect actual results, and levels
of activity, performance, or achievements. Any forward-looking
statement reflects HeartCore’s current views with respect to future
events and is subject to these and other risks, uncertainties, and
assumptions relating to operations, results of operations, growth
strategy, and liquidity. HeartCore assumes no obligation to
publicly update or revise these forward-looking statements for any
reason, or to update the reasons actual results could differ
materially from those anticipated in these forward-looking
statements, even if new information becomes available in the
future. The contents of any website referenced in this press
release are not incorporated by reference herein.
HeartCore Investor Relations Contact: Gateway
Group, Inc.Matt Glover and John YiHTCR@gatewayir.com(949)
574-3860
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