IPO - Eastern International Ltd.

Form Type: F-1/A

Filing Date: 2025-02-24

Corporate Action: Ipo

Type: Update

Accession Number: 000149315225007999

Filing Summary: Eastern International Ltd. filed Amendment No. 5 to its Form F-1 registration statement regarding a proposed public offering of its securities under the Securities Act of 1933. This amendment is specifically to file certain exhibits related to the registration statement (File No. 333-281900). The company's intention is to commence the sale of securities to the public as soon as practicable after the effective date of this registration statement. The document includes provisions for indemnification of directors and officers, exemption notices for prior issuances of securities, and details on various exhibits filed. Notably, the amendment does not include any changes to the prospectus incorporated in the previous submission (Amendment No. 4) filed on February 14, 2025. It confirms the company as an emerging growth company and outlines its compliance with applicable U.S. GAAP standards.

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Form Type: F-1/A

Filing Date: 2025-02-14

Corporate Action: Ipo

Type: New

Accession Number: 000149315225006749

Filing Summary: Eastern International Ltd. is conducting its initial public offering (IPO) of 1,600,000 Ordinary Shares, with a proposed price range of $4 to $5 per share. The company intends to list its Ordinary Shares on the Nasdaq Capital Market with the trading symbol 'ELOG.' The IPO is being offered on a firm commitment basis, and the underwriter is Maxim Group LLC, which has been granted a 45-day option to purchase an additional 240,000 Ordinary Shares to cover over-allotments. Mr. Albert Wong, the Chairman and CEO, will control 64.8% of the voting power post-offering. The company acknowledges the risks associated with operating in China, including regulatory restrictions and potential impacts on financial operations due to the government's crackdowns and the Holding Foreign Companies Accountable Act. As of the filing date, the company remains an emerging growth company subject to reduced public company reporting requirements. The prospectus indicates that investment in their shares is speculative and subject to various risks uniquely tied to their structure and market positioning.

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Form Type: F-1/A

Filing Date: 2025-01-21

Corporate Action: Ipo

Type: New

Accession Number: 000149315225003047

Filing Summary: Eastern International Ltd. is conducting its initial public offering, registering 1,600,000 Ordinary Shares with a proposed price range of $4 to $5 per share. The offering will be under a firm commitment basis, and the company plans to list its Ordinary Shares on the Nasdaq Capital Market under the symbol ELOG. The registration statement aims to provide definitive information as it is an amendment to a previously filed form. Mr. Albert Wong is expected to own approximately 64.8% of the voting power post-offering, classifying the company as a 'controlled company'. The company is also classified as an 'emerging growth company' which allows it to adhere to reduced public company reporting requirements. The document discusses various legal and operational risks associated with its business structure as a Cayman Islands holding company with subsidiaries in China, highlighting regulatory challenges and potential impacts on foreign investments. The prospectus emphasizes the speculative nature of the investment and outlines the financial details related to underwriting and projected proceeds, stressing that cash management policies are currently under development, with dividend distribution dictated by Chinese regulations. Regulatory frameworks including the Holding Foreign Companies Accountable Act and new cybersecurity regulations provide context to the potential risks around foreign investment and securities trading, especially given the regulatory actions that could hinder operational capacities in China.

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Form Type: F-1/A

Filing Date: 2024-12-31

Corporate Action: Ipo

Type: New

Accession Number: 000149315224052659

Filing Summary: Eastern International Ltd. is conducting its initial public offering (IPO) of 1,600,000 Ordinary Shares with a proposed price range of $4 to $5 per share. The shares will be listed on the Nasdaq Capital Market under the trading symbol ELOG. Post-offering, Mr. Albert Wong, the Chairman, will beneficially own 64.8% or 64.1% of the voting power, designating the company as a 'controlled company' exempt from some corporate governance requirements. The prospectus outlines significant risks, including regulatory changes in China, potential trading prohibitions under the HFC Act, and operational constraints due to governmental regulations affecting foreign investments. The offering is being made on a firm commitment basis with underwriter Maxim Group LLC, who has an over-allotment option of up to 240,000 shares. Additionally, provisions for potential foreign currency restrictions could impact fund transfers for operational use.

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