JERSEY
CITY, N.J., Feb. 7, 2025
/PRNewswire/ -- WallachBeth Capital LLC, a leading provider of
capital markets and institutional execution services, announced
that FBS Global Limited ("FBS Global" or the "Company") (NASDAQ:
FBGL), a green building contractor with award-winning projects
using green construction methods and sustainably-source and
environmentally responsible materials based in Singapore, announced the closing of its
initial public offering (the "Offering") of 2,250,000 ordinary
shares par value US$0.001 per share
at a price of US$4.50 per share to
the public, for a total of US$10,125,000 of gross proceeds to the Company,
before deducting underwriting discounts and other offering
expenses.
The ordinary shares began trading on the Nasdaq Capital Market
on February 6 , 2025, under the
symbol "FBGL." The Company intends to use the net proceeds for
business expansion efforts, research and development regarding
green building materials, potential strategic partnerships and for
other general corporate purposes.
The Company has granted a 45-day option to the underwriters to
purchase up to 337,500 additional ordinary shares, representing 15%
of the ordinary shares sold in this Offering, at the public
offering price, less the underwriting discounts, solely to cover
over-allotments, if any.
WallachBeth Capital LLC is acting as the sole book-running
manager of the Offering, and Revere Securities LLC is acting as the
co-manager to the Offering. TroyGould PC is acting as U.S. counsel
to the Company, and Ortoli Rosenstadt LLP is acting as U.S.
securities counsel to WallachBeth Capital LLC in connection with
the Offering.
The Offering was conducted pursuant to the Company's
registration statement on Form F-1, as amended (File No.
333-283619) which was filed with the United States Securities and
Exchange Commission (the "SEC") and was declared effective by the
SEC on February 5, 2025. The Offering
was made by means of a prospectus, forming part of the registration
statement. Copies of the final prospectus related to the Offering
may be obtained, when available, from WallachBeth Capital LLC,
Harborside Financial Center Plaza 5, 185 Hudson Street, Ste 1410,
Jersey City, NJ 07311, by email at
cap-mkts@wallachbeth.com, or by telephone at +1-(646) 237-8585. In
addition, a copy of the final prospectus, when available, relating
to the Offering may be obtained via the SEC's website at
www.sec.gov.
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 these securities, 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.
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.
Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
"forward-looking statements" within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements relating to the expected trading
commencement and closing dates. The words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "should," "target," "will,"
"would" and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the
uncertainties related to market conditions and the completion of
the public offering on the anticipated terms or at all, and other
factors discussed in the "Risk Factors" section of the preliminary
prospectus filed with the SEC. Any forward-looking statements
contained in this press release speak only as of the date hereof,
and FBS Global Limited specifically disclaims any obligation to
update any forward-looking statement, whether as a result of new
information, future events or otherwise, except as required by
law.
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SOURCE WallachBeth Capital LLC
