Ispire Technology Sells 2.05 Million Shares at $6.00

Ispire Technology Announces Pricing of $12.3 Million Public Offering

LOS ANGELES, March 22, 2024 /PRNewswire/ — Ispire Technology Inc. (“Ispire” or the “Company”) (NASDAQ: ISPR), a leader in the research and development, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis vaping products, today announced the pricing of a public offering of 2,050,000 shares of common stock at a price of $6.00 per share for gross proceeds of $12,300,000, prior to deducting the placement agent fees and expected offering expenses payable by the Company. The closing of the offering is expected to take place on or about March 26, 2024, subject to the satisfaction or waiver of customary closing conditions.

Roth Capital Partners acted as the lead placement agent for the offering. TFI Securities and Futures Limited acted as co-placement agent for the offering.

The Company intends to use the net proceeds of the offering in connection with the establishment and operation of its manufacturing facility in Malaysia, the funding of its joint venture with Touch Point Worldwide Inc. d/b/a Berify and Chemular Inc. if the definitive documentation contemplated by the previously announced amended term sheet and letter of intent is executed before the related drop dead date, and for working capital and general corporate purposes, including research and development.

The shares described above were offered pursuant to a registration statement on Form S-1 (File No. 333-276804), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on March 21, 2024. A final prospectus relating to the offering will be filed by the Company with the SEC. When available, copies of the final prospectus can be obtained at the SEC’s website at www.sec.gov or from Roth Capital Partners, LLC , 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor will there be any sales 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 such state or jurisdiction.

About Ispire Technology Inc.

Ispire is engaged in the research and development, design, commercialization, sales, marketing, and distribution of branded e-cigarettes and cannabis vaping products. The Company’s operating subsidiaries own or license more than 200 patents received or filed globally. Ispire’s tobacco products are marketed under the Aspire brand name and are sold worldwide (except in the U.S., People’s Republic of China and Russia) primarily through its global distribution network. The Company’s cannabis products are marketed under the Ispire brand name primarily on an original design manufacturer (ODM) basis to other cannabis vapor companies. Ispire sells its cannabis vaping hardware only in the U.S., and it recently commenced its marketing activities in Canada and Europe. For more information, visit www.ispiretechnology.com or follow Ispire on Instagram, LinkedIn, Facebook, Twitter and YouTube.

Original press release

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