• Boustead Securities

Boustead IPO Client HeartCore Enterprises, Inc. Announces Closing of $15.0 Million Nasdaq IPO



Irvine, CA, Tokyo, and New York, NY — February 14, 2022 – Boustead Securities, LLC (“Boustead”) IPO client HeartCore Enterprises, Inc., (“HeartCore” or “the Company”), a leading software development company, today announced the closing of its initial public offering of 3,000,000 shares of its common stock (the “Common Stock”) at a public offering price of $5.00 per share, for aggregate gross proceeds of $15.0 million, before deducting underwriting discounts, commissions, and other offering expenses.


The Company’s Common Stock began trading on the Nasdaq Capital Market on February 10, 2022, under the symbols “HTCR”.


“On behalf of the management team, I would like to thank all of our employees, customers, partners, and stakeholders for partaking in our journey to become a publicly-traded, Nasdaq listed company,” said CEO Sumitaka Yamamoto. “We look forward to leveraging the benefits of being on a renowned exchange, as we aim to enhance our corporate profile within the institutional and broader investment community in the U.S.”


Boustead Securities, LLC acted as the sole managing underwriter and bookrunner for the initial public offering.


Anthony L.G., PLLC acted as legal counsel to HeartCore and Bevilacqua PLLC acted as legal counsel to Boustead Securities, LLC for the offering.



A registration statement on Form S-1, as amended (File No. 333-261984), relating to the Common Stock was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on February 9, 2022. This offering is being made only by means of a prospectus. A final prospectus relating to the offering was filed with the SEC on February 10, 2022 and is available on the SEC’s website at http://www.sec.gov. A copy of the final prospectus related to the offering may be obtained from Boustead Securities, LLC, via email: offerings@boustead1828.com or by calling 1 (949) 502-4408 or requested by standard mail at Boustead Securities LLC: Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities 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 any such state or jurisdiction.



 

About HeartCore Enterprises, Inc.

Headquartered in Tokyo, Japan, HeartCore Enterprises is a leading software development company offering Software as a Service (SaaS) solutions to enterprise customers in Japan and worldwide. The Company also provides data analytics services that allow enterprise businesses to create tailored web experiences for their clients through best-in-class design. HeartCore’s customer experience management platform (CXM Platform) includes marketing, sales, service and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. HeartCore also operates a digital transformation business that provides customers with robotics process automation, process mining and task mining to accelerate the digital transformation of enterprises. Additional information about the Company’s products and services is available at www.heartcore.co.jp and https://heartcore-usa.com/.


About 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


Cautionary Statement Concerning Forward-Looking Statements

This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur.

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