Neo-Concept International Group Holdings Ltd (NCI) News & EventsNCINeo-Concept International Group Holdings Ltd

Company Offers Sale of 4.4M Class A Ordinary Shares

This filing relates to the offer and sale from time to time by the selling stockholders of up to 4.4M Class A ordinary shares. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.

Neo-Concept International Shareholders Approve Share Consolidation

Neo-Concept International held the Company's Extraordinary General Meeting, amongst which a share consolidation was approved by the shareholders, whereby every two to every four hundred issued and unissued shares in the share capital of the Company, with the exact ratio to be set at a specific number within the Range to be determined by the board of directors of the Company in their discretion by not later than the Effective Date, be consolidated into one share, and such Consolidated Share shall have the rights and be subject to the restrictions set out in the Third Amended and Restated Memorandum and Articles of Association of the Company. The Share Consolidation was to be effective from such date and time to be determined by the board of directors of the Company which in any event shall not be later than 31 December. The Share Consolidation , within the Range that every eight issued and unissued shares of the Company of $0.0025 par value each be consolidated into one share of par value $0.02 each, shall be reflected with the Nasdaq Capital Market and in the marketplace at the open of business on November 10, whereupon the Class A ordinary shares will continue trading under the symbol "NCI" and under the new CUSIP Number of G6421C146. Immediately prior to the Share Consolidation, the Company has 8,481,952 ordinary shares issued and outstanding, comprising 8,341,952 Class A ordinary shares and 140,000 Class B ordinary shares. Upon the Share Consolidation becoming effective, the Company will have approximately 1,060,246 ordinary shares issued and outstanding, comprising approximately 1,042,746 Class A ordinary shares and 17,500 Class B ordinary shares, subject to adjustment as a result of the treatment of fractional shares in the Share Consolidation. At the EGM, the shareholders also approved a separate ordinary resolution granting the board of directors a standing authority, for two years from the date of the EGM, to effect one or more further share consolidations at a ratio of up to five hundred to one in the aggregate, which cap the Share Consolidation does not count towards or consume.

Neo-Concept to Issue 2M Class A Shares at $1.00 Each

Neo-Concept announced that it has entered into securities purchase agreements with certain institutional investor for the purchase and sale of 2M of the company's Class A ordinary shares at an offering price of $1.00 per share in a registered direct offering. The gross proceeds to the company from the registered direct offering are estimated to be approximately $2M before deducting the placement agent's fees and other estimated offering expenses. The offering is expected to close on or about October 1, subject to the satisfaction of customary closing conditions. Univest Securities is acting as the sole placement agent.