Shenyang, China, March 22, 2019 (GLOBE NEWSWIRE) -- Leaping Group Co., Ltd. (the “Company”), a multimedia service provider with business relationships with national advertising clients in China, announced today that its registration statement on Form F-1, relating to the Company’s proposed initial public offering (“IPO”), was declared effective on March 21, 2019, by the United States Securities and Exchange Commission (the “SEC”).
The offering will be sold on a best efforts basis. Boustead Securities, LLC is acting as the sole underwriter for the offering. Hunter Taubman Fischer & Li LLC is acting as counsel to the Company, and Ortoli Rosenstadt LLP is acting as counsel to the underwriter.
In its proposed IPO, the Company is offering a minimum of 1,200,000 ordinary shares and a maximum of 4,000,000 ordinary shares to the public at a price of $5.00 per ordinary share. The Company expects to raise aggregate gross proceeds of between US$6,000,000 and US$20,000,000, before commissions and expenses. Upon the closing of the offering, the total number of ordinary shares outstanding will be between 17,221,126.7606 and 20,021,126.7606 shares, as described in the prospectus.
The Company has applied to list its ordinary shares on the NASDAQ Capital Market under the ticker symbol “YZCM.”
The offering of these securities was made only by means of a prospectus, which is a part of the registration statement filed with the SEC. Copies of the prospectus may be obtained from: Boustead Securities, LLC, by emailing offerings@boustead1828.com, by calling +1 (949) 502-4409, or by standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 265, Irvine, CA 92618, USA.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Leaping Group Co., Ltd.
Headquartered in Shenyang, China, Leaping Group Co., Ltd. is a multimedia service provider with business relationships with national advertising clients in China. The Company is currently engaged in three major businesses, multi-channel advertising, event planning and execution, and film and TV program production. The Company operates the largest pre-movie advertising network in Heilongjiang Province and Liaoning Province of China and also provides advertising services in elevators and supermarkets. The Company is often hired to plan and arrange both online and offline advertising campaigns and produce related advertising materials for its clients. In addition, the Company invests in films and TV programs and distributes them in movie theaters or through online platforms. For more information, please visit: www.yzcmmedia.cn.
About Boustead Securities, LLC
Boustead Securities, LLC (“Boustead”) is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States and around the world, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. For more information, please visit www.boustead1828.com.
Forward-Looking Statements
This announcement contains forward-looking statements. Forward-looking statements provide our current expectations or forecasts of future events. Forward-looking statements include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Examples of forward-looking statements in this announcement include, but are not limited to, statements regarding our disclosure concerning the Company’s operations, cash flows, financial position and dividend policy.
For more information, please contact Investor Relations at:
Tina Xiao
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com