Brookshire, TX, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Inno Holdings Inc. ("Inno" or the "Company"), an innovative building-technology company with a mission to transform the construction industry with our proprietary cold-formed steel-framing technology and other building innovations, today announced the pricing of its initial public offering (the "Offering") on December 4, 2023. The Offering consists of 2,500,000 shares of common stock priced at a public offering price of $4 per share, for total gross proceeds of $10,000,000, before deducting underwriting discounts and offering expenses. The shares of common stock have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on December 12, 2023, under the ticker symbol "INHD."
The Company has granted the underwriters an option, within 45 days from the closing date of the Offering, to purchase up to an additional 375,000 shares of common stock at the public offering price, less underwriting discounts, to cover over-allotment, if any.
The Offering is being conducted on a firm commitment basis. AC Sunshine Securities LLC is acting as representative for the underwriters for the Offering. Winston & Strawn LLP is acting as U.S. counsel to the Company, and Ortoli Rosenstadt LLP is acting as U.S. counsel to the underwriters, in connection with the Offering.
The Company intends to use the proceeds from this Offering to increase our marketing capabilities, increase production capacity, expand research and development, evaluate strategic opportunities and other working capital and general corporate purposes.
A registration statement on Form S-1 (File No. 333- 273429) relating to the Offering, as amended, ...