Intelligent Living Application Group Inc. Announces Closing of $600,000 Public Offering of Ordinary Shares

HONG KONG, Feb. 28, 2025 /PRNewswire/ -- Intelligent Living Application Group Inc. (NASDAQ: ILAG) ("Intelligent Living" or the "Company"), a premium lockset manufacturer in Hong Kong, today announced the closing of its previously announced "best efforts" public offering of 1,034,483 ordinary shares of the Company at a public offering price of $0.58 per share. Total gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, is $600,000.

Craft Capital Management LLC is acted as sole placement agent for the offering.

The Company intends to use the net proceeds from the offering for general corporate purposes, capital expenditures, working capital and general and administrative expenses.

A shelf registration statement on Form F-3 (Registration No. 333-274495) relating to the public offering of the securities described above was previously filed with the Securities and Exchange Commission (SEC) and declared effective on December 4, 2023. A prospectus supplement and accompanying prospectus relating to the underwritten public offering was filed with the SEC and are available on the SEC's website at www.sec.gov. The offering was made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement. A final prospectus supplement describing the terms of the public offering was filed with the SEC and forms a part of the effective registration statement. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from Craft Capital Management, 377 Oak St., Lower Concourse, Garden City, NY 11530, Attention: Syndicate Dept.; email: info@craftcm.com

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

For more information, visit the Company's website at http://www.i-l-a-g.com.