#China #NASDAQ #Changzhou #STAK Inc. #Oilfield Equipment

STAK Inc. Enhances Market Reach with Partial Over-Allotment Option Exercise

STAK Inc., a rapidly expanding player in the oilfield equipment industry, has revealed a significant development regarding its recent initial public offering (IPO). On March 4, 2025, the company announced that the underwriters of the IPO have partially exercised their option to purchase additional shares, leading to increased capital influx for the organization. This vital move aligns perfectly with STAK Inc.'s strategic goals of growth and industry leadership.

The company, which specializes in the research, development, and manufacturing of oilfield-specific production and maintenance equipment, saw the underwriters acquire an additional 160,349 ordinary shares at the public offering price of $4.00 per share. The gross proceeds from the IPO, which includes this latest exercise, totaled an impressive $5.64 million. The ordinary shares commenced trading on the Nasdaq Capital Market on February 26, 2025, under the ticker symbol 'STAK.'

Key Details of the Offering

The IPO was executed on a firm commitment basis, signifying a robust endorsement from investors and underwriters alike. Kingswood Capital Partners, LLC functioned as the representative of the underwriters during this offering. Furthermore, a registration statement related to the offering was filed with the Securities and Exchange Commission (SEC) and became effective prior to the trading debut. Investors are advised to obtain copies of the prospectus related to the offering from Kingswood Capital Partners or through the SEC's official website, ensuring transparency and compliance with regulatory standards.

The Company Background

STAK Inc. is focused on manufacturing oilfield-specialized equipment, bringing innovative production and maintenance solutions to oilfield service companies. The company's approach involves not only the design and manufacture of these essential tools but also collaboration with specialized vehicle manufacturers to produce custom oilfield vehicles. This vertical integration helps STAK Inc. deliver cutting-edge equipment tailored to the evolving needs of the energy sector.

With a commitment to automating and improving efficiencies in oilfield operations, STAK Inc. aims to reduce costs for its clients while enhancing their operational capabilities. The company’s ambition is to establish itself as a leading provider of specialized oilfield vehicles and equipment within China and beyond.

Forward-Looking Statements

In the announcement, STAK Inc. cautions that certain statements made are forward-looking. These involve inherent risks and uncertainties that could impact the company's future performance. It encourages investors to understand that actual results may vary from anticipated outcomes, highlighting the dynamic nature of market conditions.

As STAK Inc. embarks on this new chapter, the exercise of the underwriters' over-allotment option serves as a positive indicator of investor confidence in its business model and growth trajectory. By continuing to innovate and respond to market demands, STAK Inc. positions itself at the forefront of the oilfield service industry.

For ongoing updates and details about STAK Inc.’s offerings, stakeholders are encouraged to visit the company’s website at STAK Industry.