Vantage Corp, a shipbroking company providing comprehensive services including brokerage, consultancy, and operational support in the tanker market, announced the pricing of its underwritten initial public offering of 3,250,000 Class A Ordinary Shares at a public offering price of $4.00 per share, for aggregate gross proceeds of $13 million, prior to deducting underwriting discounts and other offering expenses.
In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 487,500 shares of Class A Ordinary Shares at the public offering price per share to cover over-allotments, if any. The offering is expected to close on or about June 13, 2025, subject to satisfaction of customary closing conditions.
All of the Class A Ordinary Shares are being offered by Vantage Corp. The Company intends to use net proceeds received from this offering for: (i) global expansion, including new offices in USA and Europe, (ii) talent acquisition and growth, (iii) digitalization and improvement of IT and further development of digital products, including the further development of Opswiz, and (iv) working capital, capital towards diversification, corporate strengthening, and other general corporate purposes.
The Class A Ordinary Shares are expected to begin trading on the NYSE American under the symbol “VNTG” on June 12, 2025.