Ispire Technology Inc. ISPR announced the closure IPO from 2.7 million common shares at the IPO Price of $7.00 per share. The gross proceeds from the offering were approx $18.9 million, before subscription discounts and commissions and estimated offering costs. The common shares began trading on the NASDAQ Capital Market on April 4, 2023.

US Tiger Securities, Inc. acted as the sole book-running manager for the offering. TFI Securities and Futures Limited and Prime Number Capital, LLC acted as underwriters for the offering.

In addition, 1.75 million common shares may be offered by two selling shareholders pursuant to the prospectus. These shares may be sold from time to time by the selling shareholders who have not engaged an underwriter in connection with the sales they have made. The company will not receive any proceeds from sales by the selling shareholders.

About Ispire technology

Ispire is engaged in R&D, design, commercialization, sale, marketing and distribution of branded e-cigarettes and cannabis vaping products. The company has more than 200 invention/design patents received or pending worldwide or licensed from a related party. Ispire’s tobacco products are marketed under the Aspire brand name and sold worldwide (excluding the PRC and Russia) primarily through the company’s distribution network. Ispire’s cannabis products are marketed under the Ispire brand name to other cannabis vapor companies primarily on an original design manufacturer basis. Ispire currently only sells its cannabis vaping hardware in the United States and has recently begun marketing activities in Canada and Europe, primarily the European Union.

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