Ispire Technology Inc. Raises Approximately $8 Million in Private Placement of Common Stock to Support Long-Term Growth

LOS ANGELES, June 26, 2023 (GLOBE NEWSWIRE) —

Ispire Technology Inc. (“Ispire” or “the Company”) (NASDAQ: ISPR), a leader in vapor technology, providing high-quality, innovative products with first-class performance, announced today that it has raised gross proceeds of approximately $8 million from the private placement of a total of 1,117,420 shares of common stock.

The Company plans to use the proceeds from this private placement to support its long-term growth initiatives, including research and development of new products, expanding its market reach, and investing in marketing and sales strategies to further establish its position as a leader in the vapor technology industry.

Innovative Products and First-Class Performance

Ispire has built a strong reputation for delivering innovative products with first-class performance to its customers. The Company’s commitment to quality and innovation has helped it stand out in the competitive vapor technology market, and this recent funding will enable Ispire to continue its track record of success.

With the support of this new capital, Ispire will be able to invest in cutting-edge research and development to bring new and exciting products to market, further solidifying its position as a leader in the industry.

Impact on Individuals:

For individuals, this funding round could mean exciting new products and innovations from Ispire. As the Company continues to push the boundaries of vapor technology, consumers can expect to see even more high-quality and performance-driven products in the market.

Impact on the World:

On a broader scale, the successful completion of this private placement is a positive sign for the vapor technology industry as a whole. Ispire’s ability to raise significant funding demonstrates investor confidence in the Company’s potential for long-term growth and success, which could have a ripple effect on the industry by encouraging further innovation and investment.

Conclusion

Overall, Ispire Technology Inc.’s successful private placement of approximately $8 million in common stock is a testament to the Company’s strong position in the vapor technology market and its potential for future growth. This funding will support Ispire’s long-term initiatives and help drive innovation, benefitting both individuals looking for high-quality vapor products and the industry as a whole.