EPWK HOLDINGS LTD. Announces Closing of Initial Public Offering

EPWK HOLDINGS LTD. (NasdaqGM: EPWK), a leading crowdsourcing platform connecting businesses with great talents, has successfully closed its initial public offering (IPO). The company raised $11.275 million in gross proceeds, with shares priced at $4.10 each. The IPO marks a significant milestone for EPWK, as it becomes the first Chinese company in the creative crowdsource industry to list on the Nasdaq Global Market.

EPWK's innovative platform has been instrumental in its growth and success, connecting businesses with outstanding talent through an integrated crowdsourcing platform. The company's unique approach to connecting businesses with freelancers has enabled it to provide creative transaction services for small and medium-sized enterprises and suppliers, while also offering an efficient and streamlined platform for freelancers to find opportunities.

The proceeds from the IPO will be used to fund business development and marketing, research and development, exploration of new product and service offerings, and the creation of an online global design center. Additionally, a portion of the proceeds will be used for general corporate purposes and working capital.

EPWK's strategic acquisition of EPWK VIE and its subsidiaries has contributed to its organic growth and expansion. By conducting its operations through EPWK VIE and its subsidiaries in China, EPWK has been able to tap into the vast market potential of the country, connecting businesses with great talents through an innovative and efficient crowdsourcing platform. This acquisition strategy has allowed EPWK to create a digital marketplace with a comprehensive services catalog and an efficient search, find, and order process, adding value to both service supply and demand sides.

The success of EPWK's IPO is a testament to the company's innovative platform and strategic acquisition strategy. As the company continues to grow and expand, it is well-positioned to capitalize on the growing demand for freelance work and the broader economic trends and labor market dynamics in China and globally. With a strong focus on connecting businesses with great talents, EPWK is poised to continue its success and create value for its shareholders.