Atlas Trinity Tech Co., Ltd 6-K, filed Jul 5, 2024
Atlas Trinity Tech Co., Ltd. (ATTT)
About this 6-K
Atlas Trinity Tech Co., Ltd filed this 6-K on July 5, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of July 2024
Commission File Number 001-42100
Raytech Holding Limited
(Translation of registrant’s name into English)
Unit 609, 6/F, Nan Fung Commercial Centre,
No.19 Lam Lok Street, Kowloon Bay, Hong Kong
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
Raytech Holding Limited, a British Virgin Islands exempted company (the “Company”) consummated on May 17, 2024 its initial public offering (the “IPO”) of 1,500,000 ordinary shares, par value $0.00000625 per share (each, an “Ordinary Share” and the Ordinary Shares sold in the IPO are hereafter referred as the “IPO Shares”). The Company completed the IPO pursuant to the Company’s registration statement on Form F-1, as amended (File No. 333-275197), filed with the Securities and Exchange Commission (the “Commission”), which was declared effective by the Commission on May 13, 2024. A final prospectus dated May 14, 2024 relating to the IPO was filed with the Commission pursuant to Rule 424(b) under the Securities Act of 1933, as amended. The IPO Shares were priced at a price of $4.00 per share, and the IPO was conducted on a firm commitment basis. The Company has also granted the underwriters a 45-day option to purchase up to an additional 225,000 Ordinary Shares to cover over-allotments, if any (the “Over-Allotment Option”). The Ordinary Shares were approved for listing on The Nasdaq Capital Market on May 13, 2024 and commenced trading under the symbol “RAY” on May 15, 2024.
On July 5, 2024, upon the underwriters’ partial exercise of the Over-Allotment Option, the Company sold 113,083 Ordinary Shares at a price of $4.00 per share accordingly. As a result, the Company has raised gross proceeds of $6,452,332 in the IPO, including the exercise of the Over-Allotment Option, before deducting underwriting discounts and offering expenses.
In connection with the underwriters’ exercise of the Over-Allotment Option, the Company issued a press release on July 5, 2024. A copy of the press release is attached hereto as Exhibit 99.1.
In addition, the Company issued a press release on July 3, 2024 to pre-announce its financial results for the fiscal year ended March 31, 2024. A copy of the press release is attached hereto as Exhibit 99.2.
This report does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: July 5, 2024 | Raytech Holding Limited | |
| By: | /s/ Tim Hoi Ching | |
| Tim Hoi Ching | ||
| Chief Executive Officer | ||
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EXHIBIT INDEX
| Exhibit Number | Description | |
| 99.1 | Press Release, dated July 5, 2024. | |
| 99.2 | Press Release, dated July 3, 2024. |
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Exhibit 99.1
Raytech Holding Limited Announces Closing of the Underwriters’ Over-Allotment Option in Connection with its Initial Public Offering
Hong Kong, July 5, 2024 ---(GLOBE NEWSWIRE) – Raytech Holding Limited (the “Company” or “RAY”), a Hong Kong-headquartered company specializes in design, sourcing and wholesale of personal care electrical appliances for international brand owners, today announced that it closed the sale of an additional 113,083 ordinary shares of the Company, pursuant to the partial exercise of the underwriters’ over-allotment option granted in connection with the Company’s initial public offering (“IPO”), at the IPO price of $4 per share, less underwriting discounts. As a result, the Company has raised gross proceeds of $452,332 in addition to the previously announced IPO gross proceeds of approximately $6,000,000, before deducting underwriting discounts and offering expenses.
Revere Securities, LLC, acted as the representative of the underwriters, R.F. Lafferty & Co., Inc. acted as the joint book runner, and Dominari Securities LLC acted as co-manager, (the “Underwriters”) for the IPO. Robinson & Cole LLP acted as U.S. counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the Underwriters, in connection with the IPO.
A registration statement on Form F-1 (File No. 333-275197) relating to the IPO, as amended, has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective by the SEC on May 13, 2024. The IPO is being made only by means of a prospectus. Copies of the final prospectus related to the IPO may be obtained, when available, from Revere Securities LLC by email at contact@reveresecurities.com or via standard mail to Revere Securities LLC, 560 Lexington Avenue 16Fl, NY, NY 10022. In addition, a copy of the final prospectus can also 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 IPO. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these 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 any such state or jurisdiction.
About Raytech Holding Limited
Raytech Holding Limited is a Hong Kong-headquartered company with over 10 years of experience in the personal care electrical appliance industry. Through its operating subsidiary in Hong Kong, it sources and wholesales a diverse range of personal care electrical appliances ranging from hair styling, tooling, trimmer, eyelash curler, neck care, to nail care and other body and facial care appliances for international brand owners, providing integrated product design, production processing, and manufacturing solutions. For more information please visit: https://ir.raytech.com.hk/ .
Forward-Looking Statement
This press release contains forward-looking statements. 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. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These forward-looking statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. 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 SEC, 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:
Underwriters
Revere Securities LLC
560 Lexington Ave, 16th Floor,
New York, NY10022
(212) 688-2350
contact@reveresecurities.com
R.F. Lafferty & Co., Inc.
40 Wall Street, 29th Floor
New York, NY 10005
(212) 293-9090
offerings@rflafferty.com
Investor Relations
WFS Investor Relations Inc.
Janice Wang, Managing Partner
Email: services@wealthfsllc.com
Phone: +86 13811768599
+1 628 283 9214
Exhibit 99.2
Raytech Holding Pre-announces Preliminary Key Financial Matric for 2024
Hong Kong, July 3, 2024 (GLOBE NEWSWIRE) -- Raytech Holding Limited (the “Company” or “RAY”), a Hong Kong-headquartered company specializing in design, sourcing and wholesale of personal care electrical appliances for international brand owners, pre-announces its financial results for the fiscal year ended March 31, 2024.
The Company achieved a significant increase in revenue for the fiscal year 2024. Total sales amounted to approximately HKD67.0 million, marking a substantial growth of 47.1% compared to the previous fiscal year’s revenue of HKD45.5 million. These robust growths are resulted from significant increase in sales from the Company’s major products and tooling programs.
Sales of products including hairstyling series, trimmer series, eyelash curler, nail care series and other personal care appliances reported HKD60.0 million in revenue, representing a 41.5% year-over-year growth. Sales of tooling also grew by 123.4% to HKD7.0 million compared to the previous fiscal year. These positive revenue trends highlight the Company’s solid performance for the past fiscal year.
RAY is also expected to report income from operation of about HKD11.3 million for the fiscal year 2024, growing by about 57.9% from the previous year. It expects to report a net income of HKD9.9 million for the fiscal year 2024, which represents a 57.9% increase from HKD6.3 million of 2023 fiscal year.
The Company is confident about its ability to effectively manage merchandise costs and optimize operational efficiency as it continues to focus on strategic initiatives and market expansion to scale up its business.
CHING Tim Hoi, CEO and Chairman of the Company, commented, “We are pleased with our strong revenue and profitability growth in 2024 as we have made significant progress in expanding our customer base and enhancing our product offerings. we remain committed to delivering innovative solutions and providing exceptional service to our valued brand partners.”
“Comparing the financial performance of 2024 with the previous fiscal year, the Company witnessed a substantial increase in revenue and net income, driven by successful market penetration and strategic partnerships. RAY remains focused on implementing cost optimization measures and streamlining our operations to improve profitability.”
RAY expects to announce the full year results for the year ended March 31, 2024 in mid-July.
About Raytech Holding Limited
Raytech Holding Limited is a Hong Kong-headquartered company with over 10 years of experience in the personal care electrical appliance industry. Through its operating subsidiary in Hong Kong, it sources and wholesales a diverse range of personal care electrical appliances ranging from hair styling, tooling, trimmer, eyelash curler, neck care, to nail care and other body and facial care appliances for international brand owners, providing integrated product design, production processing, and manufacturing solutions. For more information please visit: https://ir.raytech.com.hk/.
Forward-Looking Statement
This press release contains forward-looking statements. 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. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These forward-looking statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. 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 SEC, 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:
Investor Relations
WFS Investor Relations Inc.
Janice Wang, Managing Partner
Email: services@wealthfsllc.com
Phone: +86 13811768599
+1 628 283 9214