Fitness Champs Sets IPO Price at $4.00, Raising $3.75 Million
Fitness Champs announced the pricing of its initial public offering of 3,750,000 ordinary shares, 2,000,000 of which are being offered by the Company and 1,750,000 by selling shareholders at a price to the public of $4.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on September 4, 2025 under the ticker symbol "FCHL." The Company expects to receive aggregate gross proceeds of $8.0 million from the Offering, before deducting underwriting discounts and other related expenses. The Offering is expected to close on or about September 5, 2025, subject to the satisfaction of customary closing conditions. Net proceeds from the Offering will be used to strengthen the Company's coaching team by hiring and training more coaches; for marketing and branding; for business development such as vertical expansion in other aquatic sports; for potential strategic acquisitions; for repayment of loans made by its controlling shareholder in connection with the costs of the Offering; and for general working capital and corporate purposes. The Offering is being conducted on a firm commitment basis. Bancroft Capital is acting as the lead managing underwriter and book-runner for the Offering. Troy Gould PC is acting as the U.S. counsel to the Company, and Sichenzia Ross Ference Carmel LLP is acting as the U.S. counsel to Bancroft Capital in connection with the Offering.
