Univest Securities, LLC Announces Closing of $11 Million Initial Public Offering of Class A Ordinary Shares for its Client Top KingWin Ltd (Nasdaq: TCJH)
New York, April 20, 2023 (GLOBE NEWSWIRE) -- Univest Securities, LLC ("Univest"), a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, today announced the closing of an initial public offering (the "Offering") of 2,750,000 Class A ordinary shares at a public offering price of US$4.00 per Class A ordinary share for its client Top KingWin Ltd (NASDAQ:TCJH) (the "Company" or "Top KingWin"), a provider of capital market related education and support services, as well as advisory and transaction services in China. The Class A ordinary shares began trading on the Nasdaq Capital Market on April 18, 2023 under the ticker symbol "TCJH."
The Company received aggregate gross proceeds of US$11.0 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 412,500 Class A ordinary shares at the public offering price after the closing of Offering, less underwriting discounts.
Proceeds from the Offering will be used for for: i) personnel training and recruitment of talented personnel; ii) system improvement, building online platforms for future online courses; iii) enhancement of brand recognition through multi-channel marketing; iv) mergers and acquisitions within the industry; and v) general corporate purposes and working capital.
The Offering was conducted on a firm commitment basis. Univest Securities, LLC acted as book runner for the offering. Pacific Century Securities, LLC and AC Sunshine Securities LLC acted as co-managers for the offering. Robinson & Cole LLP acted as U.S. counsel to the Company. Olshan Frome Wolosky LLP acted as U.S. counsel to Univest in connection with the Offering.
A registration statement on Form F-1, as amended (File No.333-269290), relating to the offering was filed with the Securities and Exchange Commission ("SEC") by the Company and declared effective by the SEC on March 29, 2023. The offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained from Univest by email at [email protected], or by calling +1 (212) 343-8888. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall there be any offer, solicitation or sale of any of the Company's 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 such state or jurisdiction.
About Univest Securities, LLC
Registered with FINRA since 1994, Univest Securities, LLC provides a wide variety of financial services to its institutional and retail clients globally including brokerage and execution services, sales and trading, market making, investment banking and advisory, wealth management. It strives to provide clients with value-add service and focuses on building long-term relationship with its clients. For more information, please visit: www.univest.us.
About Top KingWin Ltd
Top KingWin's main clients are entrepreneurs and executives in small and medium-sized enterprises in China. Services provided by Top KingWin to its clients including (i) corporate business training services, which mainly focus on providing training services of advanced knowledge and new perspectives on the capital markets, (ii) corporate consulting services, which mainly focus on providing a combination of customized corporate consulting services to fulfill client's unique financial needs, and (iii) advisory and transaction services, which mainly focus on connecting entrepreneurs and businesses with diversified sources of capital. Its mission is to provide comprehensive services to address clients' needs throughout all phases of their development and growth.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. 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. Univest Securities LLC and 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:
Univest Securities, LLC
Edric Guo
Chief Executive Officer
75 Rockefeller Plaza, Suite 18C
New York, NY 10019
Phone: (212) 343-8888
Email: [email protected]
