Company Overview - Magnitude International Ltd is an electrical installation service provider based in Singapore, founded in 2012, with over 12 years of experience in the industry [7] - The company specializes in the installation of generators, transformers, and solar panel systems, acting as the main electrical contractor in various construction projects [7] - Magnitude aims to become a leading integrated one-stop electrical installation services provider in Singapore, focusing on safety, functionality, and energy efficiency of buildings [7] Initial Public Offering (IPO) Details - The company announced the pricing of its initial public offering of 2,200,000 ordinary shares at a public offering price of $4.00 per share, totaling gross proceeds of $8.8 million [1] - The offering includes 1,650,000 shares from the company and 550,000 shares from an existing shareholder, with the company not receiving proceeds from the latter [1] - The ordinary shares are expected to begin trading on the Nasdaq Capital Market under the symbol "MAGH" on August 12, 2025, with the offering expected to close on or about August 13, 2025 [2] Use of Proceeds - The net proceeds from the offering will be used for several purposes, including: - Expansion and growth through strategic acquisitions, joint ventures, and alliances [3] - Purchase of materials and expansion of the workforce [3] - Moving to a larger head office and renting a bigger dormitory for foreign workers [3] - Digitalizing systems, upgrading equipment, and investing in software solutions like ERP and HR systems [3] - General working capital and corporate purposes [3] Underwriting and Legal Counsel - Bancroft Capital, LLC is acting as the sole underwriter for the offering [4] - Concord & Sage PC and Taft Stettinius & Hollister LLP are serving as U.S. legal counsel for the company and the underwriter, respectively [4]