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OFA Group (OFAL) ( the "Company"), an architectural design firm today announced the pricing of its initial public offering (the "Offering") of 3,750,000 ordinary shares (the "Ordinary Shares") at a public offering price of $4.00 per share for total gross proceeds of $15 million to the Company, before deducting underwriting discounts and offering expenses. The Ordinary Shares are expected to commence trading on The Nasdaq Capital Market on May 21, 2025 under the symbol "OFAL". The Offering is expected to close on May 22, 2025, subject to satisfaction of customary closing conditions.
The Company has granted the underwriter an option to purchase up to an additional 562,500 Ordinary Shares at the initial public offering price, within 45 days from the closing of the Offering.
The Company intends to use the net proceeds from the Offering (i) for research and development of their architectural AI services and tools, (ii) to enhance its service capacity by establishing dedicated in-house teams for architectural and interior design, as well as project management and (iii) for general working capital and daily operational needs, including, but not limited to, the establishment of a U.S. based subsidiary to expand the Company’s services and capacities, funding sales and marketing efforts and developing the Company’s web interface.
The Offering is being conducted on a firm commitment basis. R.F. Lafferty & Co., Inc. ("R.F. Lafferty") is acting as sole underwriter for the Offering.
A registration statement on Form F-1 (File No. 333-285103) relating to the Offering, as amended, was filed with the Securities and Exchange Commission (the "SEC") on April 11, 2025 and was declared effective by the SEC on May 15, 2025. The Offering is being made only by means of a prospectus. Copies of the final prospectus related to the Offering, when available, can be obtained from: R.F. Lafferty by email at offerings@rflafferty.com or via standard mail to R.F. Lafferty & Co., Inc, 40 Wall Street, 27th Floor, New York, NY10005. In addition, copies of the prospectus relating to the Offering can be obtained via the SEC’s website at www.sec.gov.