The IPO is now effective; monitor for pricing and first trading day on OTCQB. The best-efforts structure with no minimum means the offering may raise far less than the maximum or even zero proceeds, adding significant execution risk. Given the downscaled terms and revenue decline, expect limited investor demand and low liquidity post-listing.
Price Chart
Executive Summary
GreenVector Holdings Ltd's F-1 registration statement for its initial public offering was declared effective by the SEC on June 30, 2026. The offering has been heavily downscaled to 2,000,000 Class A Ordinary Shares at $1.00 per share on a self-underwritten, best-efforts basis with no minimum, targeting OTCQB listing. Maximum gross proceeds are $2,000,000 with estimated net proceeds of only $647,951, and the company reported a 16% year-over-year revenue decline to $2.1 million for the six months ended September 30, 2025.
Key Facts
- SEC declared F-1 registration effective on June 30, 2026, allowing the IPO to proceed.
- IPO terms: 2,000,000 Class A Ordinary Shares at $1.00 per share, self-underwritten, best-efforts, no minimum.
- Company targets OTCQB listing rather than a major exchange.
- Maximum gross proceeds to the company are $2,000,000; estimated net proceeds only $647,951.
- Revenue for the six months ended September 30, 2025 declined 16% year-over-year to $2.1 million.
Financial Impact
Up to $2,000,000 gross proceeds, but net proceeds estimated at only $647,951 after expenses. The offering is tiny relative to typical IPOs and provides minimal capital for operations.
Risk Factors
- Best-efforts offering with no minimum may result in zero proceeds.
- OTCQB listing offers lower liquidity and institutional interest compared to Nasdaq.
- Revenue decline of 16% YoY raises concerns about business momentum.
- Tiny net proceeds ($648K) provide minimal runway for operations or growth.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| EFFECT Filing (Primary) | 9999999995-26-002159 |
| Document: 9999999995-26-002159-index.html | 9999999995-26-002159 |
| Document: 9999999995-26-002159.txt | 9999999995-26-002159 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 31, 2026 12w ago | 20-F | — | awaiting T+20 | — | — |
Jul 1, 2026 16w ago | 424B4 | — | awaiting T+20 | — | — |
Jul 1, 2026 16w ago | EFFECT | — | awaiting T+20 | — | — |
Jun 24, 2026 17w ago | F-1/A | — | awaiting T+20 | — | — |
Jun 16, 2026 19w ago | F-1/A | — | awaiting T+20 | — | — |
May 29, 2026 21w ago | F-1/A | — | awaiting T+20 | — | — |
Mar 3, 2026 34w ago | F-1/A | — | awaiting T+20 | — | — |
US Market Status
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