Fenbo Holdings Limited - Class A Ordinary Shares (FEBO)

Fenbo (NASDAQ: FEBO), an established provider of personal care electric appliances and toy products to overseas markets, recently announced the closing of its initial public offering of 1,000,000 ordinary shares, each at a public offering price of $5.00, for total gross proceeds of $5,000,000. The offering closed on Dec. 1, 2023, and the ordinary shares began trading on Nasdaq Capital Market on Nov. 30, 2023, under the ticker symbol FEBO. In addition, the company granted the underwriters an option, within 45 days from the date of the prospectus, to purchase up to an additional 150,000 ordinary shares at the public offering price, less underwriting discounts, to cover the over-allotment option, if any. EF Hutton, division of Benchmark Investments LLC, acted as sole book-running manager for the offering. Schlueter & Associates, P.C. acted as U.S. counsel to the company, and Sichenzia Ross Ference Carmel LLP acted as U.S. counsel to EF Hutton. Fenbo intends to use the proceeds from the offering to expand production capacity and capability, strengthen engineering, research and development capability, penetrate and further expand into new and existing geographical markets, and for general working capital and an advisory fee.