Core Viewpoint - Green Circle Decarbonize Technology Limited has successfully closed its initial public offering, raising approximately $10 million through the sale of 2.5 million ordinary shares at a price of $4.00 per share [1][2]. Group 1: Offering Details - The initial public offering consisted of 2,500,000 ordinary shares priced at $4.00 each, resulting in gross proceeds of around $10 million before expenses [1]. - The underwriters have a 45-day option to purchase up to 375,000 additional shares at the public offering price [1]. - The final prospectus for the offering was filed with the Securities and Exchange Commission on January 13, 2026, detailing the terms of the securities sold [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for several purposes: 1. Construction of a factory to expand production capacity 2. Acquisition of necessary machinery for production 3. Repayment of certain indebtedness and borrowings 4. General working capital purposes [2]. Group 3: Company Overview - Green Circle Decarbonize Technology Limited is a Cayman Islands holding company that operates through its Hong Kong subsidiary, Boca International Limited [5]. - The company specializes in advanced energy-saving solutions, utilizing proprietary phase change thermal energy storage materials and thermal engineering services [5]. Group 4: Underwriters and Legal Counsel - RBW Capital Partners LLC acted as the representative underwriter for the offering, with Revere Securities LLC serving as the co-manager [3]. - Nauth LPC provided legal counsel to the company, while Manatt, Phelps & Phillips, LLP served as counsel to the underwriters [3].
Green Circle Decarbonize Technology Limited Announces Closing of $10,000,000 Initial Public Offering