Tokyo, Japan & Irvine, CA – October 2, 2023 – Boustead Securities, LLC (“Boustead”) IPO client Lead Real Estate Co., Ltd (the “Company,” Nasdaq Ticker Symbol: LRE), a Japanese real estate developer of luxury residential properties, including single-family homes and condominiums, across Tokyo and Kanagawa prefecture, announced today the closing of its previously announced initial public offering (the “Offering”) of 1,143,000 American Depositary Shares (“AD
Ss”) at a price of $7.00 per ADS to the public for a total of $8,001,000 of gross proceeds to the Company, before deducting underwriting discounts and offering expenses. Each ADS represents one ordinary share of the Company. The Company has granted a 45-day option to the underwriters to purchase up to 171,450 additional ADSs, representing 15% of the ADSs sold in this Offering, solely to cover over-allotments, if any, less the underwriting discount. The ADSs began trading on the Nasdaq Global Market on September 27, 2023 under the symbol "LRE."
Boustead Securities, LLC and EF Hutton, a division of Benchmark Investments, LLC acted as the joint book-running managers for the Offering. Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the Company, and Loeb & Loeb LLP acted as U.S. counsel to the joint book-running managers in connection with the Offering.
A registration statement on Form F-1, as amended (File No. 333-266762) relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective on September 26, 2023. 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 from Boustead Securities, LLC, 6 Venture, Suite 395, Irvine, CA 92618, or via email at offerings@boustead1828.com or telephone at 949-502-4408. In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC's website at www.sec.gov.
About Lead Real Estate Co., Ltd
Lead Real Estate Co., Ltd is a Japanese developer of luxury residential properties, including single-family homes and condominiums, across Tokyo and Kanagawa prefecture. In addition, the Company operates hotels in Tokyo and leases apartment building units to individual customers in Japan and Dallas, Texas.
The Company’s mission is to serve its customers by offering stylish, safe, and luxurious living. The Company’s vision is to adopt the Kaizen (continuous improvement) approach to seek to improve its operations, and to leverage its nationally recognized, award-winning luxury homes and strong market position in the luxury residential property market in Tokyo and Kanagawa prefecture to create a global transaction platform allowing access to prime Japanese condominiums as well as overseas condominiums, including in the U.S. and Hong Kong.
For more information, please visit the Company’s website at: https://www.lead-real.co.jp/en/.
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