Ispire Technology Inc Successfully Listed on NASDAQ Capital Market (NASDAQ: ISPR)
Industry: Technology – Electronics and Electrical Equipment
Listing Date: 2023/4/6, NASDAQ
Capital Raised: USD 18.9 million
Partners: Tiger Brokers (Lead Underwriter), TFI Securities, Prime Number Capital
Yangkang Asset successfully assisted Ispire Technology Inc. (NASDAQ: ISPR) in completing its initial public offering at $7 per share, raising approximately USD 18.9 million to strengthen the company’s R&D and manufacturing capabilities. Ispire specializes in electronic cigarettes and cannabis vaporization products, holding over 200 global patents and has established an international manufacturing network including facilities in Vietnam and California. Following the IPO, the company announced the closure of a subsequent directed share issuance of 2,050,000 shares, raising an additional USD 12.3 million, primarily to establish production bases with its joint ventures Touch Point/Berify and Chemular Inc. in Malaysia, while supporting R&D, expanding manufacturing capacity, and daily operations.
Through this round of funding, Ispire is accelerating its international expansion. The company operates an export-oriented manufacturing plant in Johor, Malaysia, focusing on hardware manufacturing, with no involvement in local liquids or nicotine-containing products, fully compliant with local regulations, exporting products globally. The funding also covers production sites in California and Vietnam to improve capacity allocation and operational efficiency, supporting large-scale R&D projects and new product launches. From 2023 to 2024, the company’s revenue grew over 24% (Q3 year-over-year growth reached 30% to USD 30 million), demonstrating substantial results and growth momentum from the fundraising and investment strategy.