IPO - Garden Stage Ltd

Form Type: 424B5

Filing Date: 2025-04-08

Corporate Action: Ipo

Type: New

Accession Number: 000121390025029844

Filing Summary: Garden Stage Limited is conducting a self-underwritten offering of 4,806,450 ordinary shares at an offering price of $0.31 per share. The company's ordinary shares are traded on the Nasdaq Capital Market under the symbol GSIW. As of April 7, 2025, the closing price of the ordinary shares was $0.40, indicating significant price volatility and a market value held by non-affiliates of approximately $2,394,768. The company remains cautious about the PRC government’s possible intervention, highlighting risks associated with its structure as a holding company incorporated in the Cayman Islands, relying on subsidiaries in Hong Kong. No dividends have been declared or distributions made to shareholders up until this date. The expected delivery of the shares from this offering will occur on April 8, 2025, subject to customary closing conditions.