Harneys advises Orangekloud Technology Inc. on NASDAQ listing
Harneys acted as Cayman Islands legal counsel to Orangekloud Technology Inc., on its US$13.1 million initial public offering on the Nasdaq Capital Market. Orangekloud's shares commenced trading under the ticker symbol “ORKT” on 25 July 2024.
This deal is significant as it marks OrangeKloud Technology Inc.'s strategic entry into the US capital markets through a successful US$13.1 million initial public offering on the Nasdaq Capital Market. The raised capital will support their expansion and investment initiatives, while the listing boosts their visibility and investor confidence.
OrangeKloud Technology Inc. is a holding company incorporated in the Cayman Islands with operations conducted by Singapore and Malaysia subsidiaries, which is headquartered in Singapore. The group is positioned as a No-Code software development platform, disrupts traditional enterprise application development, and provides digital transformation solutions to small and medium-sized enterprises in Singapore.
The Harneys team was led by Partner Lishi Fong with support from Associate Jonathan Lim. Maxim Group LLC is the sole book-running manager for the offering. Loeb & Loeb LLP and Bird & Bird ATMD LLP acted as US and Singapore legal counsel to the Company, respectively, and Pryor Cashman LLP acted as US legal counsel to Maxim for the Offering.
Lishi commented: “We are delighted and honoured to support our client OrangeKloud Technology on the successful IPO listing of the company on Nasdaq. This transaction demonstrates our team’s expertise in navigating the complexities of cross-border listings and our ability to deliver positive outcomes for our clients. We look forward to assisting more clients with their listing aspirations in the future.”
The Corporate team at Harneys has a leading Equity Capital Markets (ECM) practice with substantial experience in all aspects of capital raising by offshore companies, including reverse mergers, IPOs and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, SPACs, and business combinations, as well as private placements, take-privates, takeovers, and spin-offs. The firm’s ECM expertise lies in advising entities listed or listing on all major stock exchanges, including the New York Stock Exchange, NASDAQ, the London Stock Exchange, AIM, the Hong Kong Stock Exchange, the Shanghai Stock Exchange, the Luxembourg Stock Exchange, and the Singapore Stock Exchange.
