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Advanced Biomed Inc. Announces Closing Of US$6.56 Million Initial Public Offering

Tainan, Taiwan, March 07, 2025 (GLOBE NEWSWIRE) -- Advanced Biomed Inc. (the "Company") (NASDAQ:ADVB), a biotechnology company focused on early screening and detection, diagnosis and staging, and treatment of cancer, today announced the closing of its initial public offering (the "Offering") of 1,640,000 shares of common stock (the "Shares"), at a public offering price of $4.00 per share for total gross proceeds of $6.56 million before deducting underwriting discounts and offering expenses. The Shares began trading on the Nasdaq Capital Market on March 6, 2025 under the ticker symbol "ADVB."

The Offering was conducted on a firm commitment basis. In addition, the Company has granted the underwriter an option, exercisable within 45 days from the closing date of the Offering, to purchase up to an additional 246,000 shares of common stock at the public offering price, less underwriting discounts and commissions, to cover over-allotment, if any.

Proceeds from the Offering will be used for: (i) invitro diagnostics (IVD) clinical research, chip design and development, upgrade facilitates, and expansion to other markets; (ii) marketing and sales, and (iii) general working capital.

Craft Capital Management LLC acted as underwriter for the Offering (the "Underwriter"). VCL Law LLP acted as U.S. securities counsel to the Company, and Ortoli Rosenstadt LLP acted as U.S. securities counsel to the Underwriter.

The Offering was conducted pursuant to the Company's registration statement on Form S-1 (File No. 333-272110), as amended, in connection with the Offering (the "Registration Statement") previously filed with the Securities and ...