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  • Boustead Securities

Boustead Client Turbo Energy, S.A. Announces Closing of Nasdaq Initial Public Offering



Valencia, Spain & Irvine, California – September 28, 2023 – Boustead Securities, LLC (“Boustead”) IPO client Turbo Energy, S.A. (Nasdaq: TURB) (the “Company”), a company engaged in the design, development, and production of equipment for the generation, management, and storage of photovoltaic (“PV”) energy, announced today the closing of its previously announced initial public offering of 1,000,000 American Depositary Shares (“ADSs”), representing 5,000,000 ordinary shares, at a price of $5.00 per ADS to the public for a total of $5,000,000 of gross proceeds to the Company, before deducting underwriting discounts and offering expenses (the “Offering”). The American Depositary Shares have begun trading on the Nasdaq Capital Market under the symbol "TURB.”


Titan Partners Group, a division of American Capital Partners, LLC, acted as lead underwriter for the Offering. Boustead Securities, LLC acted as the representative of the underwriters.


The Offering was made only by means of a prospectus, forming part of the effective registration statement. A copy of the final prospectus related to the Offering may be obtained, when available, from Titan Partners Group, a division of American Capital Partners, LLC, 7 World Trade Center, Floor 46, New York, NY 10006, Attention: Syndicate Department, or via email at info@titanpartnersgrp.com or telephone at (929) 833-1246. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC's website at www.sec.gov.

 

About Turbo Energy, S.A.

Turbo Energy, S.A. is a designer, developer, and manufacturer of equipment for the generation, management, and storage of photovoltaic (PV) energy. The Company’s energy storage products are managed, from the cloud by an advanced software system which is optimized by artificial intelligence (“AI”). The key advantage is that its products, compared to conventional battery storage systems, are focused on reducing the electricity bill in addition to protecting from power outages.


Turbo Energy’s flagship product, the Sunbox, is an all-in-one device that integrates most of the equipment for a domestic photovoltaic installation. Designed as a plug & play product, it only has to be connected to the photovoltaic panels and the home. The Sunbox is powered by AI and features a software system that monitors the generation, use, and management of photovoltaic energy through the analysis of large amounts of data related to energy generation, consumption, market prices, and weather forecasts. This AI system optimizes battery usage, reducing electricity bills and providing peak shaving and uninterruptible power supply functions.


Boustead Securities, LLC

Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit please visit: www.boustead1828.com

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