Happy City Holdings Limited Announces Closing of Initial Public Offering

Core Viewpoint - Happy City Holdings Limited has successfully completed its initial public offering (IPO) of 1,100,000 Class A ordinary shares at a price of $5.00 per share, raising gross proceeds of $5.5 million before expenses [1][2]. Group 1: Offering Details - The Class A Ordinary Shares began trading on the Nasdaq Capital Market under the symbol "HCHL" on June 24, 2025 [1]. - The company has granted underwriters a 45-day option to purchase an additional 165,000 Class A Ordinary Shares, representing 15% of the shares sold in the offering [1]. - The offering was conducted on a firm commitment basis, with Dominari Securities LLC as the representative of the underwriters [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for business expansion in Hong Kong and Southeast Asia, as well as for working capital and general corporate purposes [2]. Group 3: Company Overview - Happy City Holdings Limited operates three all-you-can-eat hotpot restaurants in Hong Kong, offering mixed style, Shabu Shabu-style, and Thai-style specialty hotpot [6]. - The company emphasizes a strong commitment to food quality and aims to provide an immersive dining experience through its unique brand image and prime locations [6].