#China #Xiamen #IPO #EPWK Holdings #cloud sourcing

EPWK Holdings LTD. Completes Successful Over-Allotment in IPO

On February 21, 2025, EPWK Holdings Ltd. (NasdaqGM: EPWK) announced the full exercise of the underwriters' over-allotment option as part of its recent initial public offering. This strategic decision resulted in the additional sale of 412,500 Class A ordinary shares at an offering price of $4.10 per share. With this move, the total gross proceeds from the offering, including the over-allotment, reached an impressive $12,966,250, excluding underwriting discounts and related expenses.

The Class A ordinary shares began trading on the Nasdaq Global Market on February 6, 2025, under the ticker symbol "EPWK." This significant milestone marks a substantial step forward for the company, which specializes in connecting businesses with exceptional talents through an innovative cloud-sourcing platform.

Proceeds from the offering are earmarked for various growth initiatives, including business development, marketing efforts, research and development, and the exploration of new product and service offerings. Additionally, the funds will be used to establish an online global design center and cover general corporate purposes and working capital needs.

The Role of Underwriters

In this successful IPO, Cathay Securities, Inc. acted as the primary representative to the underwriters, while Revere Securities LLC joined as a co-underwriter. These partnerships played a crucial role in the process, ensuring the offering was well-represented and managed. Legal counsel for the company was provided by VCL Law LLP, and Winston Strawn LLP served as the underwriters’ counsel, further solidifying the structure and integrity of the IPO.

Regulatory Compliance and Transparency

The offering was executed in accordance with the company’s Registration Statement on Form F-1, which was filed and approved by the U.S. Securities and Exchange Commission (SEC) on February 3, 2025. All necessary disclosures and compliance measures were adhered to, ensuring transparency for prospective investors. The final prospectus pertaining to the offering can be accessed on the SEC's website and from Cathay Securities, Inc.

About EPWK Holdings Ltd.

Founded by Huang Guohua, a former chief reporter at Fujian Daily Press Group, EPWK Holdings Ltd. provides an integrated crowdsourcing platform that facilitates creative transaction services primarily for small and medium-sized enterprises (SMEs) and suppliers. The company operates through subsidiaries and contractual arrangements with its variable interest entity in China, committing to delivering innovative solutions to enhance business interactions.

For further information on EPWK Holdings Ltd., please visit www.epwk.com.

Looking Ahead

As the company moves forward, it remains focused on harnessing the momentum generated by its IPO to scale operations effectively. The combination of fresh capital and a robust strategy positions EPWK Holdings to take full advantage of emerging opportunities in the talent sourcing domain, driving future growth and expansion.

In conclusion, EPWK Holdings Ltd.'s successful IPO marks a pivotal chapter in its growth narrative, with strategic investments aimed at enhancing its innovative capabilities and service delivery mechanisms. The company is poised to strengthen its position within the competitive landscape, driven by its commitment to excellence and efficiency in connecting businesses to top-tier talent.