Singapore, Feb. 25, 2025 — Basel Medical Group Ltd (Nasdaq: BMGL), a Singaporean clinical provider specializing in orthopedic and trauma services, sports medicine, orthopedic procedures, and neurosurgical treatments, has announced the pricing of its IPO of 2,205,000 ordinary shares at US$4.00 each. Trading on the Nasdaq Capital Market under the ticker “BMGL” is expected to begin on February 25, 2025. Simultaneously, the Company has registered for resale up to 2,000,000 existing ordinary shares by certain selling shareholders, with the Company not receiving any proceeds from these sales.
The Company anticipates gross proceeds of US$8,820,000 from the offering, prior to deductions for underwriting discounts and offering expenses. The underwriters also have a 45-day option to purchase up to 330,750 additional ordinary shares at the IPO price, less the underwriting discount.
The Company plans to allocate the net proceeds to (i) potential mergers and acquisitions, (ii) business development, including expanded clinic space, increased auxiliary services like X-ray, physiotherapy, and lab testing, hiring more medical staff, upgrading technology, and increased marketing, and (iii) general operations and working capital.
The offering is expected to close on February 26, 2025, contingent upon standard closing conditions.
The offering is a firm commitment offering. Cathay Securities, Inc. is the lead underwriter, and Revere Securities LLC is the co-underwriter. Sichenzia Ross Ference Carmel LLP is serving as U.S. securities counsel to the Company, and Hunter Taubman Fischer & Li LLC is serving as U.S. securities counsel to the underwriters.
These shares are being offered under a registration statement on Form F-1, as amended (File Number: 333-282096), declared effective by the SEC on February 18, 2025. The offering is made only via a prospectus, which is part of the registration statement. The final prospectus can be obtained from Cathay Securities, Inc., 40 Wall Street, Suite 3600, New York, NY 10005, Attention: Shell Li, at +1 855-939-3888, or via email at , from Revere Securities LLC, 560 Lexington Ave, 16th Floor, New York, NY 10022, at +1 212-688-2350 or via email at , or on the SEC’s website at .
Before investing, read the prospectus and other SEC filings for complete information about the Company and the offering. This press release is not an offer to sell or a solicitation to buy securities, nor will securities be offered or sold in the U.S. without registration or an applicable exemption. There will be no offer, solicitation, or sale of securities in any jurisdiction where such actions would be unlawful prior to registration or qualification under local securities laws. Any offers, solicitations, or sales of securities will be made in accordance with the Securities Act of 1933, as amended.
About Basel Medical Group Ltd
Basel Medical, based in Singapore, provides orthopedic and trauma services, sports medicine and surgery, orthopedic procedures, and neurosurgical treatments. Its clinics are located at 6 Napier Road, Unit #02-10/11 and Unit #03-07, Gleneagles Medical Centre. Over two decades, the group has cultivated strong relationships with many corporations, especially in the construction, marine, and oil & gas sectors, underpinning its business model. With over 20 years of experience as an orthopedic service provider in Singapore, Basel Medical is positioned to capitalize on growth opportunities in Singapore’s and Southeast Asia’s private healthcare industry, driven by aging populations, rising incomes, increased private insurance, government healthcare initiatives, growing sports participation, and Singapore’s status as a premium healthcare destination in Asia. The management and medical team includes orthopedic and neurosurgery specialists, as well as corporate finance and healthcare partnership specialists. Basel Medical Group Ltd is the holding company, and operations are conducted through Singapore-based operating subsidiaries. More information is available on the Company’s website: .
Forward-Looking Statements
This announcement contains forward-looking statements, including those regarding the Company’s offering. These statements involve risks and uncertainties and are based on current expectations and projections regarding future events that may affect the Company’s financial condition, results of operations, business strategy, and financial needs, including the successful completion of the offering. These statements are identifiable by words like “aim”, “anticipate”, “believe”, “estimate”, “expect”, “going forward”, “intend”, “may”, “plan”, “potential”, “predict”, “propose”, “seek”, “should”, “will”, “would” or similar expressions. The Company does not undertake to update or revise any forward-looking statements to reflect subsequent events or changes in expectations, except as required by law. While the Company believes these expectations are reasonable, it cannot guarantee their accuracy and advises investors that actual results may differ materially from anticipated results. Investors are encouraged to review other factors in the Company’s registration statement and other SEC filings that may affect future results.
For more information, please contact:
Basel Medical Group Ltd
Investor Relations
Email:
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