JE Cleantech Holdings Limited Announces Closing of Initial Public Offering

SINGAPORE, April 26, 2022 /PRNewswire/ — JE Cleantech Holdings Limited (Nasdaq: JCSE) (the “Company”), a Cayman Islands exempt company based in Singaporeannounced today the closing of its initial firm commitment public offering of 3,020,000 ordinary shares (including 20,000 over-allotment shares) at a public offering price of $4.00 per share, for aggregate gross proceeds of approximately $12.08 million before deducting subscription discounts, commissions and other related costs. In addition, as part of the initial public offering, a selling shareholder sold 750,000 ordinary shares to $4.00 per share, for total gross proceeds of $3.0 million before deducting subscription discounts, commissions and other related costs. The offer closed on April 26, 2022.

ViewTrade Securities Inc., a global provider of brokerage, investment banking, corporate, advisory and trading platform services, acted as principal underwriter and sole bookkeeper for the ‘offer.

A registration statement on Form F-1 (File No. 333-263457) relating to the securities sold under this offering was declared effective by the Securities and Exchange Commission on March 31, 2022. The offering of these securities has been made only by means of a prospectus, which forms part of the registration statement. A copy of the final offering prospectus may be obtained, when available, from ViewTrade Securities, 7280 W Palmetto Park Rd, Suite 310, Boca Raton, Florida 33433, Attn: Prospectus Department, by e-mail: [email protected]. In addition, a copy of the final prospectus relating to the offering may be obtained through the SEC’s website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the Company, and such securities will not be offered or sold in United States absent registration or an applicable exemption from registration, there will be no offer, solicitation or sale of any of the securities of the Company 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 JE Cleantech Holdings Limited

JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and attendant services. Through its subsidiary, JCS-Echigo Pte Ltd, the Company designs, develops, manufactures and sells cleaning systems for various end industrial applications primarily to customers in Singapore and Malaysia. Its cleaning systems are primarily designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide frequency range, high pressure drying technology, high flow atomization and deionized water rinses, which are designed to effectively remove contaminants. and to minimize particle generation and entrapment. The Company also provides centralized warewashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, primarily for food service establishments in Singapore.

About ViewTrade Securities, Inc.

ViewTrade Securities Incorporated, a US-registered broker-dealer providing brokerage, trading, investment banking and advisory services to US retail and B2B investors at leading financial institutions around the world, including some of the largest institutions on their national markets. ViewTrade Securities’ Investment Banking division provides capital raising and advisory services to growth-oriented companies, both domestically and in emerging markets. For more information, please visit: http://www.ViewTrade.com.

Forward-looking statements

This press release contains forward-looking statements, including with respect to the expected closing of the Company’s proposed initial public offering. These forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from the forward-looking statements, including those relating to market and other conditions and that closing of the initial public offering may not be satisfied. The Company undertakes no obligation to update these forward-looking statements after the date hereof to conform to actual results or to changes in expectations, except as required by law.

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SOURCE I Cleantech Holdings Limited