Green Circle Decarbonize Technology Limited has completed the sale of an additional 375,000 ordinary shares after the underwriter fully exercised its over-allotment option tied to the company’s initial public offering. The extra shares were sold at the IPO price of $4.00 per share, subject to customary underwriting discounts.
Including the previously announced IPO gross proceeds of $10.0 million, the extra allotment increases the total aggregate gross proceeds to $11.5 million. These figures are stated prior to the deduction of underwriting discounts and commissions and estimated offering expenses.
The exercise of the over-allotment option marks the finalization of the allotment granted to the offering underwriters. RBW Capital Partners LLC served as the representative underwriter for the transaction; the firm’s securities and brokerage services are offered through Dawson James Securities, Inc. Revere Securities LLC participated as co-manager.
Legal counsel was engaged on both sides of the transaction. Nauth LPC acted as counsel to Green Circle, while Manatt, Phelps & Phillips, LLP served as counsel to RBW Capital Partners LLC.
Green Circle is organized as a Cayman Islands holding company and conducts its business through a Hong Kong subsidiary, Boca International Limited. The company’s stated activity is the development and manufacture of Phase Change Material (PCM) storage systems intended for cooling and heating applications.
A registration statement on Form F-1 relating to the offering was filed with the U.S. Securities and Exchange Commission and was declared effective on December 30, 2025. The company-provided press release is the source for the information in this report.
Summary
Green Circle closed its over-allotment sale of 375,000 ordinary shares at the IPO price of $4.00 per share, bringing aggregate gross proceeds to $11.5 million before customary deductions. RBW Capital Partners LLC led the offering with Revere Securities LLC as co-manager, and legal counsel was engaged by both the company and underwriter. The firm operates through Boca International Limited and focuses on PCM thermal storage systems. The SEC declared the related Form F-1 effective on December 30, 2025.
Key points
- Additional 375,000 shares sold via full exercise of the underwriter’s over-allotment option at $4.00 per share - impact: financial markets and corporate finance activity.
- Total aggregate gross proceeds reached $11.5 million prior to underwriting discounts, commissions and estimated offering expenses - impact: company balance sheet and funding for product development or operations in clean energy technology.
- Green Circle operates through a Hong Kong subsidiary, Boca International Limited, developing and manufacturing Phase Change Material storage systems for heating and cooling - impact: clean technology and industrial manufacturing sectors.
Risks and uncertainties
- Reported proceeds are gross amounts stated prior to deductions for underwriting discounts, commissions and estimated offering expenses; the net funds available to the company will be lower - affects financial planning and capital allocation.
- The public details in this release derive from a company press release; available public disclosure may be limited to the items described - affects investors and market analysts relying on the same source.
- The information depends on the registration statement on Form F-1 having been declared effective by the SEC on December 30, 2025; any future regulatory updates or filings are not described here.