OrangeKloud Technology (ORKT) Prices 2.75M Share IPO at $4.75/sh

OrangeKloud Technology Inc. (NASDAQ: ORKT) today announced the pricing of its initial public offering of an aggregate of 2,750,000 shares of its Class A Ordinary Shares (“the Offering”). The Offering is priced at $4.75 per share (the “Offering Price”).

In addition, the Company has granted Maxim (as defined below) a 45-day option to purchase up to an additional 412,500 shares of its Class A Ordinary Shares at the initial public offering price (“the Over-allotment”), less underwriting discounts and commissions.

Assuming that the Over-allotment is not exercised, the gross proceeds to ORKT from the Offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by ORKT, is expected to be approximately $13.1 million.

The shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol “ORKT” on July 25, 2024. The Offering is expected to close on July 26, 2024, subject to customary closing conditions.

Maxim Group, LLC (“Maxim”) is the sole book-running manager for the offering. Loeb & Loeb LLP, Bird & Bird ATMD LLP and Harney Westwood & Riegels Singapore LLP are acting as U.S., Singapore, and Cayman Islands legal counsel to the Company, respectively, and Pryor Cashman LLP is acting as U.S. legal counsel to Maxim for the Offering.

The Offering and resale registration statement is being conducted pursuant to the Company’s Registration Statement on Form F-1 (File No. 333-277162), as amended, declared effective by the U.S. Securities and Exchange Commission (“SEC”) on July 24, 2024. The Offering is being made only by means of a prospectus. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. You may get these documents for free by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Maxim Group, LLC, 300 Park Avenue, 16^th Floor, New York, NY 10022, by phone at +1 (212) 895-3500, or by email at [email protected]. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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