Top Wealth Group Announces Closing of Initial Public Offering

Top Wealth Group Holding Limited has announced the successful conclusion of its initial public offering (IPO). Hong Kong-based Top Wealth is a leading supplier of luxury caviar products. The IPO involved the sale of 2 million ordinary shares for US$4.00 per share. The shares began trading on the Nasdaq Capital Market on 16th April 2023, under the ticker symbol “TWG”.

The offering resulted in gross proceeds of US$8 million for the company, which will be used to expand its business internationally, promote its brand, and provide general working capital. The underwriters have an option to purchase up to an additional 300,000 ordinary shares at the public offering price, less underwriting discounts, for a period of 45 days after the closing of the offering.

Revere Securities LLC acted as the sole underwriter for the offering, which was conducted on a firm commitment basis. Ortoli Rosenstadt LLP acted as the U.S. counsel to the Company, and The Crone Law Group P.C. acted as U.S. counsel to Revere Securities LLC in connection with the offering.

The offering was made by means of a prospectus, forming a part of the registration statement, and a free writing prospectus. A registration statement on Form F-1 relating to the offering was filed with the U.S. Securities and Exchange Commission (SEC) (File Number: 333-275684) and was declared effective by the SEC on March 29th, 2024. Copies of the final prospectus relating to the offering may be obtained from Revere Securities LLC by email at contact@reveresecurities.com, by standard mail to Revere Securities LLC, 560 Lexington Avenue, Suite 16B, New York, NY 10022 USA, or by telephone at (212) 688-2238. Additionally, copies of the prospectus and free writing prospectus relating to the offering may be obtained via the SEC’s website at www.sec.gov.

Investors need to read the prospectus, the free writing 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 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.