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UNITED KINGDOM - Energys Group Limited (NASDAQ: ENGS), a provider of energy efficiency and decarbonization solutions, has announced the pricing of its initial public offering at $4.50 per ordinary share. The company is offering 2,250,000 shares, aiming to raise gross proceeds of approximately $10.1 million before expenses. The shares are approved for listing on the NASDAQ Capital Market and will start trading on April 1, 2025, under the ticker symbol "ENGS." According to InvestingPro analysis, the stock is currently trading above its Fair Value, with notable revenue growth of ~60% in the last twelve months.
The underwriters, led by American Trust Investment Services, Inc., have the option to purchase an additional 337,500 shares to cover any over-allotments within 45 days of the prospectus date. The offering is expected to close on April 2, 2025, subject to standard closing conditions.
Energys Group, founded in 1998 as an energy conservation consultancy, has evolved into a vertically integrated firm serving various sectors, including education, healthcare, and office environments, primarily in the UK. The company plans to use the IPO proceeds to expand its UK network, establish subsidiaries in the United States, procure inventory, and explore mergers and acquisitions. Additionally, funds will be allocated to research and development, repaying bank borrowings, and general working capital. InvestingPro data reveals the company operates with moderate debt levels but faces liquidity challenges with a current ratio of 0.51. Recent financial performance shows negative EBITDA of $0.12 million, highlighting the importance of this capital raise.
This announcement comes following the effective declaration of the registration statement by the U.S. Securities and Exchange Commission on March 14, 2025. The offering is made through a prospectus, copies of which can be obtained from American Trust or the SEC’s website.
Investors are cautioned that this press release contains forward-looking statements, which involve risks and uncertainties. These statements reflect the company’s current expectations for its operations and financial performance, and actual results may differ materially. Energys Group advises investors to review the factors that may affect future results in its SEC filings. InvestingPro subscribers can access additional insights, including 6 key ProTips and comprehensive financial health metrics, to make more informed investment decisions.
This article is based on a press release statement from Energys Group Ltd.
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