Zhuhai, China, April 01, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Powerbridge Technologies Co., Ltd. (“Powerbridge” or the “Company”), a global trade software application and technology services provider, today announced the pricing of its initial public offering (“IPO” or the “Offering”) of its 1,750,000 ordinary shares, par value US$0.00166667 per share (the “Shares”), at an offering price of $5.0 per share, for gross proceeds of US$8,750,000. The Shares are expected to begin trading on the NASDAQ Capital Market on April 2, 2019, under the symbol PBTS.
The Offering is expected to close on April 4, 2019 subject to customary closing conditions.
The Benchmark Company, LLC and Maxim Group LLC are acting as joint book running managers for the Offering while TriPoint Global Equities, LLC is the financial advisor to the Company.
A registration statement on Form F-1 (File No. 333-229128) relating to the Shares was filed with the Securities and Exchange Commission (“SEC”) and is effective. A preliminary prospectus relating to the Offering has been filed with the SEC and is available on the SEC's web site at http://www.sec.gov.
The Offering is being made only by means of a prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained from The Benchmark Company, LLC, Attn: Prospectus Department, 150 E 58th Street, 17th floor, New York, NY 10155, 212-312-6700, Email: prospectus@benchmarkcompany.com and the Maxim Group LLC 405 Lexington Avenue, 2nd Fl. New York, NY 10174 (212) 895-3500; or the above-referenced SEC website.
About Powerbridge
Powerbridge Technologies Co., Ltd. is a provider of software application and technology solutions and services to corporate and government customers primarily located in China. Founded in 1997, Powerbridge pioneered global trade software applications with a vision to make global trade operations easier for customers. Since inception, Powerbridge has continued to innovate and deliver solutions and services to address the changing needs of thousands of customers. Powerbridge’s mission is to make global trade easier by empowering all players in the ecosystem.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company's statements regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
For Powerbridge:
Powerbridge Technologies Co., Ltd.
Stewart Lor
Chief Financial Officer
Email: stewartlor@powerbridge.com
US Investor Relations:
PCG Advisory, Inc.
Vivian Cervantes
Phone: 646-863-6274
Email: vivian@pcgadvisory.com
China Investor Relations:
Ascent Investor Relations LLC
Tina Xiao
Phone: +86-1360-111-9533
Email: tina.xiao@ascent-ir.com