Crone Law Group | Garden Stage Limited IPO
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Garden Stage Limited IPO

Garden Stage Limited Announces the Closing of $11,500,000 IPO (Nasdaq: GSIW)

Hong Kong, Dec. 05, 2023 (GLOBE NEWSWIRE) — Garden Stage Limited (the “Company” or “Garden Stage”), a Hong Kong-based financial services provider principally engaged in the provision of (i) placing and underwriting services; (ii) securities dealing and brokerage services; and (iii) asset management services, today announced the closing of its initial public offering (the “Offering”) of 2,500,000 ordinary shares at a public offering price of US$4.00 per ordinary share. The ordinary shares began trading on the Nasdaq Capital Market on December 1, 2023, under the ticker symbol “GSIW.”

Company has granted the underwriters a 45-day option to purchase up to an additional 375,000 ordinary shares at the public offering price (the “Over-allotment Option”), less underwriting discounts. On December 4, 2023, the underwriters exercised the Over-Allotment Option in full to purchase an additional 375,000 Ordinary Shares, at a price of US$4.00 per ordinary share.

The Company received aggregate gross proceeds of US$11.5 million from the Offering, after the underwriters exercised their over-allotment option in full to purchase the additional 375,000 Ordinary Shares, before deducting underwriting discounts and other related expenses.

Proceeds from the Offering will be used for expanding the Company’s underwriting and placing services, commencing their securities margin financing services, enhancing their IT infrastructure and capacity, expanding their asset management service, expanding their securities dealing and brokerage services coverage in the U.S. exchanges, and general working capital.

The Offering was conducted on a firm commitment basis. Revere Securities LLC, R.F. Lafferty & Co., Inc. and Dominari Securities LLC (the “Underwriters”) acted as the Underwriters for the Offering. Ortoli Rosenstadt LLP acted as U.S. counsel to the Company and The Crone Law Group P.C. acted as U.S. counsel to the Underwriters in connection with the Offering.

About The Crone Law Group

The Crone Law Group, P.C. is focused on corporate securities, securities compliance, and international business and trade, with significant experience working with domestic and foreign corporate issuers. The firm is unique in its ability to handle the most complex securities, M&A, corporate finance matters, intellectual property, and immigration law issues while providing clients with close, personal, service—not often available at larger, less intimate firms. We represent a select clientele that includes domestic and foreign publicly traded corporations, emerging companies, and entrepreneurs in various industries.


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