RedCloud Holdings plc closed its IPO, raising $20 million with shares trading on Nasdaq under ticker "RCT."
Quiver AI Summary
RedCloud Holdings plc announced the successful closing of its initial public offering (IPO) on March 21, 2025, selling 4,444,445 ordinary shares at $4.50 per share, resulting in gross proceeds of approximately $20 million. The shares began trading on the Nasdaq Capital Market under the ticker "RCT," and the company has granted underwriters a 30-day option to purchase an additional 666,666 shares to cover over-allotments. Roth Capital Partners and Clear Street LLC are leading the offering, with legal counsel provided by Ellenoff Grossman & Schole LLP and Taylor Wessing LLP for the company, and Reed Smith LLP for the underwriters. RedCloud's platform focuses on enhancing data access for fast-moving consumer goods across supply chains, enabling retailers to make informed B2B purchasing and inventory decisions through AI-driven insights.
Potential Positives
- RedCloud Holdings successfully closed its initial public offering, raising approximately $20 million in gross proceeds, which can be used to further develop its platform and business operations.
- The company’s ordinary shares began trading on the Nasdaq Capital Market under the ticker symbol “RCT,” enhancing its visibility and accessibility to investors.
- RedCloud has granted underwriters a 30-day option to purchase additional shares, indicating potential further investor interest and the ability to raise additional capital.
- The press release highlights RedCloud's innovative platform that leverages AI to facilitate B2B transactions in the fast-moving consumer goods sector, positioning the company favorably in a high-growth market.
Potential Negatives
- The offering price of $4.50 per share may indicate a low valuation, raising concerns about investor confidence in the company's growth potential.
- The potential dilution of shares due to the underwriters' option to purchase additional shares (up to 666,666) could negatively impact existing shareholders.
- The press release includes numerous forward-looking statements, which typically carry inherent risks and uncertainties that may deter cautious investors.
FAQ
What is RedCloud's initial public offering price?
RedCloud's initial public offering price is $4.50 per share.
When did RedCloud's shares start trading?
RedCloud's ordinary shares began trading on the Nasdaq Capital Market on March 21, 2025.
How much did RedCloud raise in its IPO?
RedCloud raised approximately $20 million before deducting underwriting discounts and expenses.
Who managed RedCloud's IPO?
Roth Capital Partners and Clear Street LLC acted as active joint book-running managers for the offering.
Where can I find RedCloud's final prospectus?
The final prospectus can be obtained from Roth Capital Partners or Clear Street LLC, or by visiting the SEC's website.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
LONDON, March 24, 2025 (GLOBE NEWSWIRE) -- RedCloud Holdings plc (“RedCloud” or the “Company”), today announced the closing of its initial public offering of 4,444,445 of its ordinary shares at a public offering price of $4.50 per share (the “Offering”). The gross proceeds of the Offering are approximately $20 million before deducting underwriting discounts and offering expenses.
The ordinary shares began trading on the Nasdaq Capital Market under the ticker symbol “RCT” on March 21, 2025.
RedCloud has granted the underwriters a 30-day option to purchase up to an additional 666,666 ordinary shares from RedCloud to cover over-allotments in connection with the Offering.
Roth Capital Partners and Clear Street LLC are acting as active joint book-running managers for the Offering. Rosenblatt Securities Inc. is acting as a passive book-running manager. The Benchmark Company, LLC is acting as co-manager.
Ellenoff Grossman & Schole LLP and Taylor Wessing LLP served as legal counsel to the Company. Reed Smith LLP served as legal counsel to the underwriters.
A registration statement relating to the ordinary shares was declared effective by the Securities and Exchange Commission (the “SEC”) on March 20, 2025. The Offering was made only by means of a prospectus. A final prospectus relating to the Offering has been filed with the SEC. Copies of the final prospectus may be obtained from Roth Capital Partners, LLC at 888 San Clemente Drive, Suite 400, Newport Beach CA 92660, by phone at (800) 678-9147 and from Clear Street LLC, Attn: Syndicate Department, at 150 Greenwich Street, 45th floor, New York, NY 10007, by email at [email protected] . Copies may also be obtained by visiting EDGAR on the SEC’s website at www.sec.gov .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About RedCloud Holdings plc
RedCloud has developed and operates the RedCloud platform (the “Platform”), that facilities the trading of everyday consumer supplies of fast-moving consumer goods (“FMCG”) products across business supply chains. RedCloud believes its Platform solves a decades old problem of how to unlock and enable access to key purchase and sales data between brands, distributors and retailers in high growth consumer markets. Through RedCloud’s Platform, retailers are enabled to use data driven insights backed by artificial intelligence (“AI”) to help make faster and easier business-to-business (“B2B”) purchases and inventory decisions from brands and distributors by breaking down complex purchasing behaviors of large product inventory catalogues. For more information about RedCloud and its Platform, please visit www.redcloudtechnology.com and connect on LinkedIn and Facebook .
Forward-Looking Statements
The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or our future financial or operating performance. When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in RedCloud’s prospectus. RedCloud undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Contacts
Investor Relations
CORE IR
Louie Toma
(516) 222-2560
[email protected]
Media Relations
CORE IR
Jules Abraham
(917) 885-7378
[email protected]
