FOR IMMEDIATE RELEASE
Edwin Kwok & Co (“EKC”) served as the US counsel to the placing agents, advising on the placement of up to 342,288,000 new shares (the “Placing”) in XtalPi Holdings Limited (“XtalPi”). The Placing represents approximately 9.31% of the existing issued share capital of XtalPi as at February 19, 2025 and approximately 8.52% of the enlarged issued share capital of XtalPi immediately following completion of the Placing. The successful placing reflects the investors’ confidence in XtalPi and its prospects.
The net proceeds of the Pacing will be primarily used to support the Company’s ongoing product iterations and upgrades, commercialization efforts, business development, potential acquisitions and investments, talent attraction and introduction, working capital replenishment and general corporate purposes.
XtalPi is a quantum physics-based, AI-powered, and robotics-driven, innovative R&D platform. It is the first Specialist Technology Company listed under Chapter 18C of the Hong Kong Listing Rules, marking a significant milestone in the history of Hong Kong IPOs.
“We are honored to be selected as the US counsel to the placing agents for this block trade and we would like to thank the placing agents and the Company for their trust and support,” said Iris Leung, lead partner at EKC. “Our team is dedicated to providing exceptional legal support and ensuring that this transaction is executed flawlessly,” said Edwin Kwok, Managing Partner at EKC.
Edwin Kwok & Co focuses on a full range of corporate, capital markets, mergers and acquisitions, private equity, and regulatory matters. With combined U.S., Hong Kong and English law capabilities, we provide integrated, comprehensive and innovative solutions on a wide variety of matters globally.
