Happy City Holdings Prices IPO Of 1.10M Class A Ordinary Shares At $5/Shr

Happy City Holdings Limited (NASDAQ:HCHL) (the "Company"), an established all-you-can-eat hotpot restaurant operator in Hong Kong , today announced the pricing of its initial public offering (the "Offering") of 1,100,000 Class A ordinary shares (the "Class A Ordinary Shares"), at a price of $5.00 per Class A Ordinary Share (the "Offering Price").

The Class A Ordinary Shares are expected to begin trading on the Nasdaq Capital Market on June 24, 2025 under the symbol "HCHL." The Offering is expected to close on June 25, 2025, subject to the satisfaction of customary closing conditions.

The Company expects to receive aggregate gross proceeds of US$5.5 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 165,000 Class A Ordinary Shares of the Company, at the Offering Price, representing 15% of the Class A Ordinary Shares sold in the Offering (the "Over-allotment Option"). Assuming that the Over-allotment Option is exercised, the Company is expected to receive gross proceeds amounting to $6.325 million, before deducting underwriting discounts and commissions and estimated offering expenses.

The Company intends to use the net proceeds for its business expansion in Hong Kong and Southeast Asia region and working capital and general corporate purposes.