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LOS ANGELES - OFA Group (NASDAQ: OFAL), an architectural design firm, announced today the pricing of its initial public offering (IPO) at $4.00 per share. The company is offering 3,750,000 ordinary shares with expected gross proceeds of $15 million, before underwriting discounts and offering expenses. According to InvestingPro data, the company maintains a solid current ratio of 1.95, indicating strong short-term liquidity position. Trading on The Nasdaq Capital Market under the ticker "OFAL" is set to begin today, with the IPO expected to close tomorrow, subject to customary closing conditions.
The company has also granted the underwriter, R.F. Lafferty & Co., Inc., an option to purchase up to an additional 562,500 shares at the IPO price within 45 days after the closing. The net proceeds from the offering are earmarked for research and development of architectural AI services and tools, expansion of service capacity, and general working capital needs, including the establishment of a U.S. subsidiary.
The offering is conducted on a firm commitment basis, and the final prospectus related to the offering will be available through R.F. Lafferty and on the SEC’s website.
OFA Group, through its subsidiary Office for Fine Architecture Limited, specializes in architectural services for commercial and residential buildings. The company is focusing on the integration of artificial intelligence with human expertise to enhance its architectural design services. InvestingPro analysis reveals the company generated revenue of $0.39M with a healthy gross profit margin of 46.43%, though it’s currently not profitable. InvestingPro subscribers have access to over 10 additional key metrics and insights about OFAL’s financial health.
The press release includes forward-looking statements regarding the expected trading commencement and closing dates, the intended use of proceeds, and the company’s operations and business strategy. These statements are based on the management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. InvestingPro rates OFAL’s overall financial health as FAIR, with detailed analysis available to subscribers, including comprehensive risk assessments and growth potential indicators.
The information provided is based on a press release statement.
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