Loeb Represents Underwriters in Prestige Wealth's Initial Public Offering

Loeb & Loeb acted as U.S. counsel to the underwriters, Revere Securities LLC and R.F. Lafferty & Co., in connection with the initial public offering of Prestige Wealth, a wealth management and asset management services provider based in Hong Kong. The company, which priced its IPO on July 6th on the Nasdaq Capital Market under the ticker symbol “PWM,” closed its offering of 1,000,000 ordinary shares at a public offering price of $5.00 per share on July 10th.

Prestige Wealth received aggregate gross proceeds of $5 million from the offering, before deducting underwriting discounts and other related expenses. In addition, the company granted the underwriters a 45-day option to purchase up to an additional 150,000 ordinary shares at the public offering price, less underwriting discounts.

The Loeb & Loeb team that represented the underwriters in the offering was led by Capital Markets & Corporate partner Lawrence Venick; and included associates Michael Tsang, Jeffrey Yeung and Olivia Wang. 

For more information, please see the company’s press release.