Empro closes underwriter’s partial exercise of over-allotment option

Empro (EMPG) Group closed the sales of an additional 115,000 ordinary shares of the Company, representing the partial exercise of the underwriter’s over-allotment option granted in connection with the Company’s initial public offering at the IPO price of $4.00 per share, less underwriting discounts. As a result, the Company has raised gross proceeds of $460,000 in addition to the previously announced IPO gross proceeds of approximately $5,500,000, before deducting underwriting discounts and other offering expenses. The Offering was conducted on a firm commitment basis. R.F. Lafferty & Co., Inc. acted as the sole underwriter for the Offering. Pryor Cashman LLP acted as U.S. counsel to the Company, and Sichenzia Ross Ference Carmel LLP acted as U.S. counsel to the Underwriter in connection with the Offering.