Mint Incorporation Limited (Nasdaq: MIMI) (the “Company”), a Hong Kong-based interior design and fit out works provider, today announced the closing of its initial public offering (the “Offering”) of 1,750,000 Class A ordinary shares (the “Class A Ordinary Shares”), at a price of $4.00 per Ordinary Share (the “Offering Price”). The Class A Ordinary Shares commenced trading on the Nasdaq Capital Market on January 10, 2025 under the symbol “MIMI.”
The Company has granted the underwriters a 45-day option to purchase up to an additional 262,500 Class A Ordinary Shares of the Company, at the Offering Price, representing 15% of the Class A Ordinary Shares sold in the Offering (the “Over-allotment Option”). On January 10, 2025, the underwriters exercised the Over-Allotment Option in full to purchase an additional 262,500 Class A Ordinary Shares, at a price of US$4.00 per Class A Ordinary Share.
The Company received aggregate gross proceeds of US$8.05 million from the Offering, before deducting underwriting discounts and other related expenses. The Company intends to use the net proceeds from the Offering for increasing operating scale and expanding business and geographic coverage including the United States of America and the United Kingdom, potential strategic investment and acquisitions, upgrading IT services, and working capital and for other general corporate purposes.
The Offering was conducted on a firm commitment basis. Benjamin Securities, Inc. acted as the representative of the underwriters, with Prime Number Capital, LLC acted as the co-underwriter (collectively, the “Underwriters”) for the Offering. Ortoli Rosenstadt LLP acted as U.S. securities counsel to the Company. Jun He Law Offices LLC acted as the legal counsel to the Underwriters in connection with the Offering. A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 281922), as amended, and was declared effective by the SEC on December 20, 2024. A final prospectus describing the terms of the Offering was filed with the SEC on January 10, 2025 and is available on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus relating to the Offering may be obtained, when available, from Benjamin Securities, Inc. by email at info@benjaminsecurities.com, by standard mail to Benjamin Securities, Inc., 3 West Garden Street, Suite 407, Pensacola, FL 32502, or by telephone at +1 (516) 931-1090; or from Prime Number Capital, LLC by email at info@pncps.com, by standard mail to Prime Number Capital, LLC, 12 E 49 St, Floor 27, New York, NY 10017, or by telephone at +1 (516)717-5671.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made 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 other jurisdiction.