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TOP WIN INTERNATIONAL LIMITED (Nasdaq: TOPW), a Hong Kong-based wholesaler specializing in trading, distribution, and retail of luxury watches of international brands, today announced the pricing of its initial public offering (the “Offering”) of 2,664,000 ordinary shares at the price of $4.00 per share.
The Ordinary Shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on April 2, 2025, under the ticker symbol “TOPW.” The Offering is expected to close on April 3, 2025, subject to the satisfaction of customary closing conditions.
The Company expects to receive gross proceeds of approximately US$10.6 million from the Offering, before deducting underwriting discounts and other offering expenses. In addition, the Company has granted the underwriters a 45-day option (the “Over-Allotment Option”) to purchase up to an additional 399,600 Ordinary Shares at the Offering Price, representing 15% of the Ordinary Shares sold in the Offering (the “Over-allotment”).
The Company intends to use the net proceeds for: (i) brand marketing and promotion; (ii) sales team expansion and regional growth, including Southeast Asia; (iii) sourcing and inventory diversification; and (iv) working capital and general corporate purposes.
The Offering is conducted on a firm commitment basis. Dominari Securities LLC is acting as the representative of the underwriters, with Revere Securities LLC acting as the co-underwriter (collectively, the “Underwriters”) for the Offering. Ortoli Rosenstadt LLP, Harney Westwood & Riegels, and Stevenson, Wong & Co. are acting as the U.S., Cayman Islands, and Hong Kong legal counsels to the Company, respectively. Marcum Asia CPAs LLP is acting as the independent registered public accounting firm of the Company. The Crone Law Group, P.C. is acting as U.S. counsel to the Underwriters for the Offering.
The Offering is being conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333-283448) previously filed with, and subsequently declared effective on March 27, 2025 by, the U.S. Securities and Exchange Commission (the “SEC”). The Offering is being made only by means of a prospectus, forming a part of the Registration Statement, and a free writing prospectus. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Copies of the final prospectus relating to the Offering may be obtained, when available, from Dominari Securities LLC by email at info@dominarisecurities.com, by standard mail to Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor New York, NY 10022, or by telephone at +1 (212) 393-4500; or from Revere Securities LLC by email at contact@reveresecurities.com, by standard mail to Revere Securities LLC, 560 Lexington Avenue, 16th Floor, New York, NY 10022, or by telephone at +1 (212) 688-2350.