Group 1 - The company TMD Energy Limited has announced the pricing of its initial public offering (IPO) of 3,100,000 ordinary shares at a price of US$3.25 per share, aiming for total gross proceeds of approximately US$10.08 million before deductions [1][2] - The shares are set to begin trading on April 21, 2025, on the NYSE American under the symbol "TMDE" and the offering is expected to close on April 22, 2025, subject to customary closing conditions [1] - The underwriter has a 45-day option to purchase up to 465,000 additional shares to cover over-allotments, which could increase total gross proceeds to approximately US$11.59 million if fully exercised [2] Group 2 - The net proceeds from the offering will be used for purchasing cargo oil, covering listing expenses, and for working capital and other general corporate purposes [3] - Maxim Group LLC is acting as the sole book-running manager for the offering, with Loeb & Loeb LLP and Pryor Cashman LLP serving as U.S. legal counsel [3] Group 3 - TMD Energy Limited and its subsidiaries are primarily engaged in marine fuel bunkering services, specializing in the supply and marketing of various types of marine fuel oils to ships and vessels at sea [6] - The company operates in 19 ports across Malaysia with a fleet of 15 bunkering vessels [6]
TMD Energy Limited Announces Pricing of US$10.08 Million Initial Public Offering