Samfine Creation Bolsters Financial Position with Full Exercise of Over-Allotment Option

Samfine Creation Holdings Group Limited (Nasdaq: SFHG), a leading one-stop printing service provider, recently announced the full exercise of the underwriter's over-allotment option, further strengthening its financial position and market presence. This strategic move allows the company to secure additional funds, which will be utilized to enhance its operations and expand into new markets.

The full exercise of the over-allotment option resulted in an additional 300,000 ordinary shares being sold at the public offering price of $4.00 per share. This transaction generated an additional $1.2 million in gross proceeds, bringing the total number of ordinary shares sold to 2,300,000 and the gross proceeds to $9.2 million. After deducting underwriting discounts and other related expenses, the net proceeds will be used to strengthen the company's operating subsidiaries' printing business in Hong Kong, expand market presence in international markets, particularly the U.S., purchase machinery, improve production equipment, and for additional working capital and general corporate purposes.

The increased number of ordinary shares sold and the additional gross proceeds have positively impacted the company's share price and liquidity. With a stronger financial position, Samfine Creation is well-positioned to capitalize on growth opportunities and attract investors.

The use of net proceeds for strengthening the operating subsidiaries' printing business and expanding market presence in international markets, particularly the U.S., is expected to have a significant impact on the company's long-term growth prospects. By investing in its core business and expanding into new markets, Samfine Creation can increase its customer base, diversify its revenue streams, and enhance its competitive position.

The full exercise of the over-allotment option has also reinforced the company's relationship with its underwriters and investors. Cathay Securities, Inc. acted as the representative of the underwriters, while Revere Securities LLC and Dominari Securities LLC served as co-underwriters. Hunter Taubman Fischer & Li LLC acted as U.S. legal counsel to the Company, and Ortoli Rosenstadt LLP acted as legal counsel to the Underwriters for the Offering. This collaboration demonstrates the confidence and support of the underwriters in Samfine Creation's growth prospects and commitment to its investors.

In conclusion, the full exercise of the underwriter's over-allotment option has significantly bolstered Samfine Creation's financial position, enabling the company to invest in its core business, expand into new markets, and strengthen its relationship with underwriters and investors. As the company continues to execute its strategic growth plans, it is well-positioned to capitalize on opportunities in the printing services industry and create value for its shareholders.