WallachBeth Capital Announces Closing of Trident Digital Tech Holdings Initial Public Offering

JERSEY CITY, N.J., Sept. 11, 2024 /PRNewswire/ -- WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announced Trident Digital Tech Holdings Ltd. (NASDAQ:TDTH) ("Trident" or the "Company"), a leading digital transformation enabler in the small and medium enterprise, or the SME segment of the e-commerce enablement and digital optimization services market in Singapore, closed its previously announced initial public offering (the "Offering") of 1,800,000 American Depositary Shares ("ADSs") at a price to the public of US$5.00 per ADS. Each ADS represents eight Class B Ordinary Shares of the Company. Trident's ADSs began trading on the Nasdaq Capital Market on September 10, 2024, under the symbol "TDTH."

The Company raised a total of approximately US$9.0 million in gross proceeds from the Offering, before deducting underwriting discounts and commissions as well as other estimated offering expenses. In addition, the Company has granted the underwriters an option, exercisable within 45 days from the date of the final prospectus, to purchase up to an aggregate of 270,000 additional ADSs at the initial public offering price.

WallachBeth Capital LLC acted as Lead Underwriter for the Offering and Revere Securities LLC acted as the Co-Manager for the Offering. The Underwriters were represented by Sichenzia Ross Ference Carmel LLP.

A registration statement on Form F-1 (File No.: 333-274857) relating to the Offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these 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 any such state or jurisdiction.

This offering is being made only by means of a prospectus forming a part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting WallachBeth Capital, LLC at [email protected], or by telephone at (646) 237-8585.

About WallachBeth Capital LLC

WallachBeth Capital offers a robust range of capital markets and investment banking services to the healthcare community, connecting corporate clients with leading institutions, creating value for both issuers and investors. The firm's experience includes initial public offerings, follow-on issues, PIPE offerings, and private transactions and ATM's.

Safe Harbor Statement

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 performances, 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 following: the Company's ability to achieve its goals and strategies, the Company's future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, fluctuations in general economic and business conditions, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission ("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, as well as its current reports on Form 6-K and other filings, all of which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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SOURCE WallachBeth Capital LLC