RedCloud Holdings plc (RCT), today announced it has launched its proposed initial public offering of 11,000,000 of its ordinary shares pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (“SEC”). The underwriters will have a 30-day option to purchase up to an additional 1,650,000 ordinary shares from RedCloud. The initial public offering price is currently expected to be between $4.00 and $6.00 per ordinary share. RedCloud intends to list its ordinary shares on the Nasdaq Capital Market under the ticker “RCT”.
RedCloud intends to use the net proceeds that it receives from the proposed offering for market expansion efforts, for further development of its AI capabilities, investment in its platform upgrades, to repay debt obligations and for working capital and general purposes. It may also use a portion of the net proceeds to acquire, license and invest in complementary products, technologies or additional businesses.
Roth Capital Partners (WA:CPAP) and Clear Street LLC are acting as lead joint book-running managers for the proposed offering. Rosenblatt Securities Inc. is acting as a passive book-running manager. The Benchmark Company, LLC is acting as co-manager.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from Roth Capital Partners, LLC at 888 San Clemente Drive, Suite 400, Newport Beach CA 92660, by phone at (800) 678-9147 and from Clear Street LLC, Attn: Syndicate Department, at 150 Greenwich Street, 45th floor, New York, NY 10007, by email at ecm@clearstreet.io. Copies may also be obtained by visiting EDGAR on the SEC’s website at www.sec.gov.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.