EPWK Holdings Raises $12.97M in Nasdaq IPO, Exercises Over-Allotment Option

EPWK HOLDINGS LTD. announced that underwriters have fully exercised their over-allotment option, increasing gross proceeds from the initial public offering to $12.97mln. The proceeds will be used for business development, marketing, research and development, and general corporate purposes. Cathay Securities and Revere Securities acted as underwriters, with VCL Law LLP and Winston & Strawn LLP serving as counsel.

EPWK Holdings Ltd., a leading cloud-sourcing platform connecting businesses with top talents, announced the successful completion of its initial public offering (IPO) on February 6, 2025 [1]. The company raised a total of $12.97 million, surpassing the initial target of $11.275 million.

The offering, which was conducted on a firm commitment basis, saw the sale of 2,750,000 Class A ordinary shares at a public offering price of $4.10 per share [1]. Cathay Securities and Revere Securities acted as underwriters for the IPO, with VCL Law LLP and Winston & Strawn LLP serving as legal counsel [1].

Proceeds from the IPO will be allocated towards various business development initiatives, including marketing, research and development, and the exploration of new product and service offerings [1]. Additionally, the company plans to establish an online global design center to further enhance its offerings.

EPWK Holdings' IPO marks a significant milestone in the company's growth journey. With the increased capital, the company aims to expand its reach, enhance its platform, and create new opportunities for businesses and talents alike.

References:
[1] EPWK Holdings Ltd. Announces Closing of Initial Public Offering. PR Newswire. February 7, 2025. https://www.prnewswire.com/news-releases/epwk-holdings-ltd-announces-closing-of-initial-public-offering-302371381.html