OFA Group sets price for $15 million IPO

In Los Angeles, California, OFA Group, an architectural design firm, declared the pricing of its initial public offering on May 21, 2025. The company will offer 3,750,000 ordinary shares at a public offering price of $4.00 per share, aiming for total gross proceeds of $15 million before any deductions for underwriting discounts and other expense costs. As part of this financing initiative, the ordinary shares are expected to begin trading on The Nasdaq Capital Market under the symbol 'OFAL', with the offering anticipated to close the next day, subject to customary closing conditions. The funds yielded from the offering are intended for various strategic purposes. Primarily, OFA Group plans to allocate a portion towards research and development of architectural AI services and tools. Additionally, the money will support the establishment of in-house teams focused on architectural and interior design and project management. The firm is also set to utilize some proceeds for general working capital and daily operational needs, which include creating a U.S.-based subsidiary to better expand its services and capacities, enhancing efforts in sales and marketing, and furthering the development of the company's online presence. R.F. Lafferty has been appointed as the sole underwriter for this offering, facilitating the initial public offering process. A registration statement concerning the offering was filed by OFA Group with the Securities and Exchange Commission on April 11, 2025, and it was later declared effective on May 15, 2025. The company emphasizes in its communication that this announcement does not serve as an offer to sell or a solicitation of an offer to buy any securities in states or jurisdictions where such actions would be considered unlawful prior to registration or qualification under applicable securities laws. OFA Group's entry into the public market reflects a growing trend among companies within the architectural sector to leverage public financing for expansion and innovation. The initial public offering not only provides the necessary funds for the company's growth but also positions OFA Group to enhance its market presence and offerings in the evolving landscape of design and architecture. Overall, this strategic move signifies OFA Group's commitment to investing in advanced technologies and service capacity improvements, aiming to remain competitive in a rapidly changing industry landscape.