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CHANGZHOU, China - STAK Inc . (NASDAQ:STAK), a company focused on oilfield equipment production and maintenance, announced today that underwriters have partially exercised their over-allotment option, purchasing an additional 160,349 ordinary shares at $4.00 each. This sale increases the gross proceeds from the company’s initial public offering to $5.64 million before expenses. According to InvestingPro data, the company currently trades above its Fair Value, with a market price of $3.98 and annual revenue of $18.92 million.
The company’s shares began trading on the Nasdaq Capital Market on February 26, 2025, following the effectiveness of a registration statement by the Securities and Exchange Commission on February 25, 2025. Kingswood Capital Partners (WA:CPAP), LLC served as the underwriters’ representative for the firm commitment offering. Since its listing, STAK has demonstrated strong financial health with a gross profit margin of approximately 30% and EBITDA of $3.13 million in the last twelve months.
The offering and additional share sale were made through a prospectus included in the registration statement. While the prospectus is available from Kingswood Capital Partners and through the SEC’s website, the press release clarified that this does not constitute an offer to sell or a solicitation of an offer to buy securities.
STAK Inc. specializes in creating and manufacturing specialized equipment for the oilfield industry, including vehicles integrated with their equipment. The company aims to supply oilfield services with innovative solutions to enhance efficiency and reduce costs, targeting a niche market in China. InvestingPro analysis reveals the company operates with a moderate debt level and maintains healthy liquidity, with a current ratio of 1.89. Get access to 6 more exclusive InvestingPro Tips and comprehensive financial analysis by subscribing to InvestingPro.
This press release contains forward-looking statements about STAK Inc.’s expectations, projections, and business strategy, which involve risks and uncertainties. The company has stated it will not update these forward-looking statements unless required by law. Investors should note that STAK’s stock generally trades with high price volatility, as identified by InvestingPro analysis.
Investors interested in STAK Inc.’s future plans and financial performance can obtain more information from the company’s investor relations department or Ascent Investor Relations LLC. This article is based on a press release statement from STAK Inc.
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