LZ Technology Holdings Limited, a technology and advertising company based in China, recently announced that the underwriters of its initial public offering have exercised their over-allotment option in full, resulting in the purchase of an additional 270,000 Class B ordinary shares at the public offering price of US$4.00 per share. This has led to additional gross proceeds of $1,080,000.
With the full exercise of the over-allotment option, the total number of Class B ordinary shares sold in the public offering increased to 2,070,000 shares, raising the gross proceeds to approximately US$8.28 million. The option closing date was on March 11, 2025, and the Class B ordinary shares started trading on the Nasdaq Capital Market on February 27, 2025, under the ticker symbol “LZMH.”
Benjamin Securities, Inc. and D. Boral Capital LLC served as underwriters for the offering. Bevilacqua PLLC acted as U.S. securities counsel to the Company, while Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to the underwriters in connection with the offering.
LZ Technology Holdings Limited operates in three key verticals: Smart Community, Out-of-Home Advertising, and Local Life. The company provides intelligent access control and safety management systems for residential communities, offers advertising solutions through a vast network of monitors, and connects businesses with consumers through online promotions and retail sales.
Investors are advised to review the company’s registration statement and other filings with the SEC for a detailed understanding of its financial condition and future prospects. For further information, interested parties can contact Michael Wu, the Investor Relations at LZ Technology Holdings Limited.
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