Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of May 2024

 

Commission File Number: 001-42024

 

Mingteng International Corporation Inc.

 

Lvhua Village, Luoshe Town,

Huishan District, Wuxi,

Jiangsu Province, China 214189

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒ Form 40-F ☐

 

 

 

 

 

 

On April 17, 2024, Mingteng International Corporation Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with  Craft Capital Management LLC, as the representative of the underwriters listed on Schedule A thereto (the “Representative”) in connection with the initial public of 1,050,000 ordinary shares, par value $0.00001 per share, of the Company (the “Ordinary Shares”) at an offering price of $4.00 per share (the “Public Offering Price”).

 

Pursuant to the Underwriting Agreement, the Company also granted the underwriters a 45-day option to purchase up to 157,500 Ordinary Shares at the Public Offering Price, less the underwriting discount, to cover over-allotment, if any (the “Over-Allotment Option”).

 

On May 8, 2024, the Representative fully exercised the Over-Allotment Option to purchase an additional 157,500 Ordinary Shares. The Company received $569,600 in net proceeds from the exercise of the Over-Allotment Option, after deducting underwriting discounts and other estimated expenses payable by the Company. The closing of the Over-Allotment Option took place on May 10, 2024.

 

On May 10, 2024, the Company also issued the Representative warrants to purchase up to 7,875 Ordinary Shares.

 

The Company issued a press release on May 10, 2024, announcing the closing of the Over-Allotment Option. Copy of the press release is attached hereto as Exhibit 99.1.

 

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EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Press Release – Mingteng International Corporation Inc. Announces Full Exercise of the Underwriters’ Over-Allotment Option

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	Mingteng International Corporation Inc.
Date: May 10, 2024	By:	/s/ Yingkai Xu
	Name:	Yingkai Xu
	Title:	Chief Executive Officer

 

 

 

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Exhibit 99.1

 

Mingteng International Corporation Inc. Announces Full Exercise of Underwriters’ Over-Allotment Option

 

Wuxi, China, May 10, 2024 -- Mingteng International Corporation Inc. (the “Company” or “Mingteng International”) (Nasdaq: MTEN), an automotive mold developer and supplier in China, today announced the underwriters of its previously announced initial public offering (the “Offering”) have exercised their over-allotment option in full to purchase an additional 157,500 ordinary shares at the public offering price of US$4.00 per share, resulting in additional gross proceeds of $630,000. After giving effect to the full exercise of the over-allotment option, the total number of ordinary shares sold by Mingteng International in the public offering increased to 1,207,500 ordinary shares and the gross proceeds increased to approximately $4.83 million, before deducting underwriting discounts and offering expenses payable by the Company. The option closing date was May 10, 2024. The ordinary shares began trading on the Nasdaq Capital Market on April 18, 2024, under the ticker symbol “MTEN.”

 

Net proceeds from the Offering will be used by the Company for investing in new production facilities to improve production capacity and purchase high-end production equipment, strengthening research and development (“R&D”) capabilities in the mold casting field of turbochargers and new energy vehicle (“NEV”) parts, general working capital, and expanding product types.

 

The Offering was conducted on a firm commitment basis. Craft Capital Management LLC and R.F. Lafferty & Co., Inc. acted as co-underwriters for the Offering (the “Underwriters”). Ortoli Rosenstadt LLP acted as U.S. counsel to the Company, and Sichenzia Ross Ference Carmel LLP acted as U.S. counsel to the Underwriters in connection with the Offering.

 

A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-270953), as amended, and was declared effective by the SEC on March 29, 2024. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from Craft Capital Management LLC by email at [e-mail], by standard mail to Craft Capital Management LLC, 377 Oak Street, Lower Concourse, Garden City, NY 11530, or by calling [phone]; or from R.F. Lafferty & Co., Inc. by email at [e-mail], by standard mail to R.F. Lafferty & Co., Inc., 40 Wall Street, 27th Floor, New York, NY 10005, or by calling [phone]. In addition, copies of the final prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

 

This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s 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 such state or jurisdiction.

 

About Mingteng International Corporation Inc.

 

Based in China, Mingteng International Corporation Inc. is an automotive mold developer and supplier that focuses on molds used in auto parts. The Company provides customers with comprehensive and personalized mold services, covering mold design and development, mold production, assembly, testing, repair and after-sales service. With its production plant located in Wuxi, China, the Company aims to build a systematic solution for automobile mold services and create a personalized and integrated “Turnkey Project” for customers. The Company’s main products are casting molds for turbocharger systems, braking systems, steering and differential system, and other automotive system parts. The Company also produces molds for new energy electric vehicle motor drive systems, battery pack systems, and engineering hydraulic components, which are widely used in automobile, construction machinery and other manufacturing industries. For more information, please visit the Company’s website: https://ir.wxmtmj.cn/.

 

Forward-Looking Statements

 

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the SEC before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

 

For investor and media inquiries, please contact:

 

Mingteng International Corporation Inc.

Investor Relations Department

Email: [e-mail]

 

Ascent Investor Relations LLC

Tina Xiao

Phone: [phone]

Email: [e-mail]

 

 

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