Wellchange Holdings Company Limited (Nasdaq: WCT)

Wellchange Holdings Company Limited, an enterprise software solution provider based in Hong Kong, has successfully closed its initial public offering (the ‘Offering’) of 2,000,000 ordinary shares, with a par value of US$0.00005 each. Of the total shares offered, 1,100,000 were from the Company and 900,000 from a selling shareholder, priced publicly at US$4.00 each. Trading commenced on the Nasdaq Capital Market on October 2, 2024, under the symbol ‘WCT’.

The Company’s gross proceeds from its shares amounted to US$4.4 million prior to underwriting discounts and other expenses. Additionally, underwriters have a 45-day option to purchase up to 165,000 more shares at the public offering price, less any underwriting discounts. Notably, the Company did not receive proceeds from the selling shareholder’s shares.

Net proceeds from the Offering will be allocated towards enhancing service capacity by refining core software technologies, expanding the SaaS platform, and increasing marketing and branding presence through various campaigns. This also includes plans for international expansion, particularly in the U.S. and Australia, and potential strategic mergers, acquisitions, or investments, along with general working capital.

The Offering was made on a firm commitment basis, with Dominari Securities LLC serving as the lead underwriter, alongside Revere Securities LLC as co-underwriter. Legal counsel for the Company in the U.S. is provided by Ortoli Rosenstadt LLP, while Hunter Taubman Fischer & Li LLC represents the underwriters.

A registration statement on Form F-1 regarding the Offering was filed with the U.S. Securities and Exchange Commission (SEC) (File Number: 333-276946), declared effective on September 30, 2024. The Offering was conducted solely via a prospectus linked to the registration statement. Interested parties can obtain copies of the final prospectus from Dominari Securities LLC by contacting them via email or standard mail, or through the SEC’s website at www.sec.gov.

This announcement does not represent an offer or solicitation to sell, nor an invitation to buy any of the Company’s securities, where such actions may be deemed illegal prior to registration or qualification under applicable securities laws.