Alta Global Group Limited Announces Closing of Initial Public Offering

Alta Global Group Limited ("Alta"), headquartered in Manly, Australia, has successfully completed its initial public offering (IPO), issuing 1,300,000 ordinary shares at a price of $5.00 per share, raising gross proceeds of $6,500,000, before accounting for underwriting discounts and offering expenses. The technology firm, focusing on the martial arts and combat sports industry, also provided the underwriters a 45-day option to purchase up to an additional 195,000 shares to manage over-allotments.

The net proceeds from the IPO are earmarked for various corporate initiatives such as marketing and sales, product development, research, and development, in addition to covering working capital, operating expenses, and capital expenditures. ThinkEquity managed the offering as the sole book-running manager. The offering took place under a registration statement on Form F-1 (File No. 333-275618), which the Securities and Exchange Commission (SEC) declared effective on March 27, 2024.