HeartCore Enterprises, Inc. Announces Price of $15.0 Million Initial Public Offering
NEW YORK and TOKYO, 09 Feb. 2022 (GLOBE NEWSWIRE) — HeartCore Enterprises, Inc. (“HeartCore” or “the Company”), a leading software development company, today announced the price of its initial public offering of 3,000,000 common shares (the “Common Shares”) at a public offering price of $5.00 per share, for aggregate gross proceeds of $15.0 million, before deducting subscription discounts, commissions and other offering costs.
In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 450,000 shares of common stock at the public offering price per share, less underwriting discounts and commissions, to cover over-allotments, if any. . The offering is expected to close on or about February 14, 2022, subject to the satisfaction of customary closing conditions.
All common shares are offered by HeartCore. The Company intends to use the proceeds primarily to fund technology development, acquisition of other companies, working capital and general corporate purposes.
The company has received approval to list its common stock on the Nasdaq Capital Market, with its common stock trading under the symbol “HTCR”, with trading expected to begin February 10, 2022. HeartCore is expected to ring the opening bell Nasdaq on the first day of trading of its common stock.
Boustead Securities, LLC is acting as managing underwriter and bookrunner for the IPO.
Anthony LG, PLLC is serving as counsel to HeartCore and Bevilacqua PLLC is serving as counsel to Boustead Securities, LLC on the Offer.
A registration statement on Form S-1, as amended (File No. 333-261984), relating to the common stock has been filed with the Securities and Exchange Commission (“SEC”) and declared effective on February 9 2022. This offering is made by means of a prospectus only. A definitive prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. A copy of the final prospectus relating to the offering may be obtained, when available, from Boustead Securities, LLC, by email: [email protected] or by calling 1 (949) 502-4408 or by standard mail at Boustead Securities LLC: Attn: Equity Capital Markets, 6 Venture, Suite 395, 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 securities described herein, and there will be no sale of such securities in any state or jurisdiction in which a such offer, solicitation or sale would be unlawful. prior to registration or qualification under the securities laws of such state or territory.
HeartCore Investor Relations Contact:
Gateway Group, Inc.
Matt Glover and John Yi
About HeartCore Enterprises, Inc.
Based in Tokyo, Japan, HeartCore Enterprises is a leading software development company providing Software as a Service (SaaS) solutions to enterprise customers in Japan and around the world. The company also provides data analytics services that enable businesses to create tailored web experiences for their customers through best-in-class design. HeartCore’s Customer Experience Management Platform (CXM Platform) includes marketing, sales, service, and content management systems, along with other tools and integrations, that enable businesses to ‘enhance the customer experience and drive engagement. HeartCore also operates a digital transformation business that provides customers with robotic process automation, process mining, and task mining to accelerate digital business transformation. Additional information about the Company’s products and services is available at www.heartcore.co.jp and https://heartcore-usa.com/.