Wang & Lee Group Announces Pricing of $12.0 Million Registered Direct Offering
Summary
Hong Kong, March 24, 2025 (GLOBE NEWSWIRE) -- Wang & Lee Group, Inc. (Nasdaq: WLGS), a multinational leader in sustainable infrastructure and resource development, today announced that it has entered into a securities purchase agreement with certain institutional investors for the purchase and sale of 3,529,400 ordinary shares at a purchase price of $3.40 per ordinary share, together with Series A warrants to purchase up to 3,529,400 ordinary shares at an exercise price of $3.40 per ordinary share and Series B warrant. The total number of securities to be issued is subject to adjustment as described in more detail in the Report on Form 6-K to be filed in connection with the registered direct offering.Maxim Group LLC is acting as the sole placement agent for the offering.The gross proceeds to the Company from the registered direct offering are estimated to be approximately $12,000,000 before deducting the placement agents fees and other estimated offering expenses payable by the Company. The offering is expected to close on or about March 24, 2025, subject to the satisfaction of customary closing conditions.The ordinary shares, Series A Warrants and Series B warrants are being offered pursuant to a shelf registration statement on Form F-3 (File No. The offering will be made only by means of a prospectus supplement that forms a part of such registration statement. When available, copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SECs website at or from Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Attention: Syndicate Department, or via email at or telephone at (212) 895-3500.This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.About Wang & Lee Group, Inc.WANG & LEE GROUP, Inc. is a Hong Kong-based construction prime and subcontractor engaging in the installation of Electrical & Mechanical Systems, which includes low voltage (220v/phase 1 or 380v/phase 3) electrical system, mechanical ventilation and air-conditioning system, fire service system, water supply and sewage disposal system installation and fitting out for the public and private sectors.