Wellchange prices public offering at $0.40 per share

HONG KONG - Wellchange Holding Company Limited (NASDAQ:WCT), a provider of enterprise software solution services currently valued at $32.5 million, has set the public offering price for 25 million ordinary shares at $0.40 each. The company expects to raise approximately $10 million in gross proceeds before accounting for placement agent fees and other related expenses. The offering is anticipated to close on January 17, 2025, contingent upon customary closing conditions.

Revere Securities LLC is the exclusive placement agent for the offering, while Pacific Century Securities, LLC serves as the company's advisor. Legal counsel for U.S. securities law matters is provided by Ortoli Rosenstadt LLP, with Hunter Taubman Fischer & Li LLC representing the placement agent in the same context.

The offering is made possible through a previously filed registration statement, which was declared effective by the U.S. Securities and Exchange Commission on January 14, 2025. Interested parties may obtain copies of the final prospectus once available by contacting Revere Securities LLC.

Wellchange, operating through its subsidiary Wching Tech Ltd Co., specializes in customized software solutions, cloud-based software-as-a-service (SaaS) platforms, and white-label software design and development services. The company's offerings are aimed at assisting small and medium-sized businesses in their digital transformation efforts, focusing on enhancing productivity, customer experiences, and enabling growth through its integrated all-in-one Enterprise Resource Planning software solutions. According to InvestingPro data, the company maintains impressive gross profit margins of nearly 80% and has demonstrated strong financial health metrics.

The company's forward-looking statements include expectations regarding the completion of the offering and its potential impact on the company's financial position and growth strategies. While the stock has shown significant volatility, with a 14% gain in the past week despite a 63% decline over the last six months, these statements are subject to known and unknown risks, and actual results may differ materially from those anticipated. For deeper insights into WCT's financial metrics and growth potential, InvestingPro subscribers have access to over 15 additional key indicators and analysis tools.

This news article is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Potential investors are advised to read the risk factors detailed in the company's final prospectus and other SEC filings before making any investment decisions.

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