Cuprina Holdings closes $12 million IPO for wound care expansion

SINGAPORE - Cuprina Holdings (Cayman) Limited (NASDAQ:CUPR), a company specializing in chronic wound management and health and beauty products, has successfully closed its initial public offering (IPO) on Monday, raising $12 million in gross proceeds. The offering consisted of 3 million Class A Ordinary Shares priced at $4.00 each. The stock is currently trading at $4.11, showing initial market confidence despite challenging financial metrics revealed by InvestingPro analysis.

The newly public company, which began trading on the NASDAQ Stock Market under the ticker "CUPR" the day before the closing, plans to allocate the net proceeds from the offering towards its expansion into new markets, research and development to enhance its product portfolio, increasing brand awareness, and investing in equipment and infrastructure. The funds will also support general corporate and working capital needs. InvestingPro data shows this funding is crucial, as the company's current ratio of 0.3 indicates significant short-term liquidity challenges. Get access to more detailed financial health indicators and 5 additional ProTips with an InvestingPro subscription.

David Quek, CEO of Cuprina, expressed satisfaction with the closing of the offering and highlighted the company's commitment to addressing the growing demand for chronic wound care. Quek cited an aging global population and the rising prevalence of diabetes, obesity, cardiovascular ailments, and peripheral vascular diseases as key factors driving this demand. Recent financial data shows revenue growth of 32.4%, though the company reported negative EBITDA of $0.99 million in the last twelve months. Cuprina's focus is on sustainable, nature-derived raw materials containing bioactives that have been clinically shown to yield superior clinical outcomes and reduce healthcare costs.

R. F. Lafferty & Co., Inc. served as the sole book-running manager for the offering, while multiple legal firms provided counsel in the U.S., Singapore, and the Cayman Islands.

The offering was made pursuant to Cuprina's registration statement on Form F-1, declared effective by the U.S. Securities and Exchange Commission (SEC) on March 31, 2025. The final prospectus related to the offering is available from R. F. Lafferty & Co., Inc., and can also be obtained from the SEC's website.

This press release, prepared for informational purposes, does not constitute an offer to sell or a solicitation of an offer to buy securities. The securities may not be sold in the United States without registration or an exemption from registration, and any such sale would be unlawful without such registration or qualification under the securities laws of the applicable state or jurisdiction.

Investors are cautioned not to place undue reliance on forward-looking statements contained in the press release, which speak only as of the date issued. Cuprina Holdings disclaims any obligation to update any forward-looking statement, except as required by law.

The information in this article is based on a press release statement from Cuprina Holdings.

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