Magic Empire Global Limited (MEGL) Prices 5M Share IPO at $4/sh

Magic Empire Global Limited (NASDAQ: MEGL), a financial services provider in Hong Kong which principally engage in the provision of corporate finance advisory services and underwriting services, today announced the pricing of its initial public offering (the “Offering”) of 5,000,000 ordinary shares at a price of $4.00 per share. The ordinary shares have been approved for listing on The Nasdaq Capital Market and are expected to commence trading on August 5, 2022 under the ticker symbol “MEGL.”

The aggregate gross proceeds from the Offering will be $20 million, before deducting underwriting discounts and other related expenses. The Offering is expected to close on or about August 9, 2022, subject to the satisfaction of customary closing conditions.

The Offering is being conducted on a firm commitment basis. Network 1 Financial Securities, Inc. is acting as sole book runner and lead underwriter for the Offering.

A registration statement on Form F-1 relating to the Offering has been filed with the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-264575) and was declared effective by the SEC on August 4, 2022. The Offering is being made only by means of a final prospectus, forming a part of the registration statement. Copies of the prospectus relating to the Offering may be obtained, when available, from Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241, Red Bank, NJ 07701, Attention: Adam Pasholk by email at [email protected] or Karen (Huiyun) Mu, by email at [email protected], or by calling +1 (800)-886-7007. In addition, a copy of the final prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.

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. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s securities 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 such state or jurisdiction.

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