Singapore, March 03, 2025 — Basel Medical Group Ltd (the “Company”) (Nasdaq: BMGL), a clinical provider based in Singapore specializing in general and subspecialized orthopedic and trauma care, sports medicine and surgery, orthopedic procedures, and neurosurgical treatments, announced today the completion of its initial public offering of 2,205,000 ordinary shares at a price of US$4.00 each. Trading of the shares on the Nasdaq Capital Market commenced on February 25, 2025, under the ticker symbol “BMGL”. Certain selling shareholders have registered for resale up to 2,000,000 existing ordinary shares. The Company will not receive any proceeds from the sale of these shares by the selling shareholders.

The offering generated gross proceeds of US$8,820,000 before deducting underwriting discounts and offering expenses payable by the Company. Furthermore, the underwriters have been granted a 45-day over-allotment option to purchase up to an additional 330,750 ordinary shares at the public offering price, less the underwriting discount.

The Company plans to use the net proceeds from the offering for (i) potential mergers and acquisitions, (ii) business expansion, including acquiring additional clinic space, increasing auxiliary service capabilities such as X-ray, physiotherapy and laboratory testing services, hiring more medical practitioners and staff, upgrading technology systems, and increasing marketing expenditure, and (iii) daily operations and working capital.

The offering was executed on a firm commitment basis. Cathay Securities, Inc. served as the lead underwriter, and Revere Securities LLC acted as co-underwriter for the offering. Sichenzia Ross Ference Carmel LLP served as U.S. securities counsel to the Company for the offering, while Hunter Taubman Fischer & Li LLC served as U.S. securities counsel to the underwriters.

The shares mentioned above were offered by the Company in accordance with a registration statement on Form F-1, as amended (File Number: 333-282096), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 18, 2025. The offering was conducted solely through a prospectus, which is part of the effective registration statement. A copy of the final prospectus related to the offering can be obtained from Cathay Securities, Inc., 40 Wall Street, Suite 3600, New York, NY 10005, Attention: Shell Li, by calling +1 855-939-3888, or by emailing , from Revere Securities LLC, 560 Lexington Ave, 16th Floor, New York, NY 10022, by calling +1 212-688-2350 or emailing , or by visiting the SEC’s website at .

Before making any investment decisions, you should carefully review the prospectus and other documents that the Company has filed or will file with the SEC for a more thorough understanding of the Company and the offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Company’s securities. Furthermore, these securities will not be offered or sold in the United States without registration or an applicable exemption from registration. There will also be no offer, solicitation, or sale of the Company’s securities in any state or jurisdiction where such offers, solicitations, or sales would be unlawful before registration or qualification under the securities laws of that state or jurisdiction. Any offers, solicitations, offers to buy, or sales of securities will be conducted in compliance with the registration requirements of the Securities Act of 1933, as amended.

About Basel Medical Group Ltd

Basel Medical, based in Singapore, provides orthopedic and trauma services, sports medicine and surgery, orthopedic procedures, and neurosurgical treatments. Our operations are located in Singapore, with clinics at 6 Napier Road, Unit #02-10/11 and Unit #03-07, Gleneagles Medical Centre. Over the past two decades, our group has developed strong relationships with a large number of corporations, particularly in the construction, marine, and oil & gas industries, which support our robust business model. As an orthopedic service provider in Singapore with over 20 years of experience, we are well-positioned to capitalize on the growing opportunities in Singapore’s and Southeast Asia’s private healthcare industry. These opportunities are driven by aging populations, rising income levels, increasing private insurance coverage, government healthcare efforts and expenditure, growing sports participation, and Singapore’s position as a leading destination for healthcare services in Asia. Our management and medical practitioner team includes orthopedic and neurosurgery specialists, as well as corporate finance and healthcare partnership specialists. Basel Medical Group Ltd serves as the holding company for our group, and we conduct our operations through our operating subsidiaries in Singapore. For more information, please visit the Company’s website: .

Forward-Looking Statements

This announcement contains certain forward-looking statements. These statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections regarding future events that may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation of a successful offering completion. Investors can identify many (but not all) of these statements by the use of terms like “aim,” “anticipate,” “believe,” “estimate,” “expect,” “going forward,” “intend,” “may,” “plan,” “potential,” “predict,” “propose,” “seek,” “should,” “will,” “would,” or similar expressions in this press release. The Company is not obligated to publicly update or revise any forward-looking statements to reflect events or circumstances occurring after the date of this release or changes in its expectations, except as required by law. While the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee that these expectations will be realized. The Company cautions investors that actual results may differ significantly from the anticipated results and encourages them to review other factors that may affect its future performance in the Company’s registration statement and other filings with the SEC.

For more information, please contact:

Basel Medical Group Ltd
Investor Relations
Email:  

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