Heartcore Enterprises Inc.
-The Company expects to receive approximately $32.4 million in warrants from previously announced Go-IPO client SBC Medical Group Holdings
-HeartCore Signs Eighth and Ninth Go IPO Clients – Libera Gaming Operations and ICheck Co.
NEW YORK and TOKYO, March 16, 2023 (GLOBE NEWSWIRE) — HeartCore Enterprises, Inc. (“HeartCore” or the “Company”)a leading software development company offering a customer experience management (CXM) platform and digital transformation, announced that it has made compelling progress on its Go IPO advisory service offering.
As part of HeartCore’s previously announced fifth Go-IPO win with SBC Medical Group Holdings (“SBC”), SBC agreed to pay the Company a total of $900,000 in initial fees, in addition to warrants to acquire 2.7% of the common stock of SBC on a fully diluted basis. Since SBC was recently valued at $1.2 billion, HeartCore expects to receive approximately $32.4 million worth of warrants.
HeartCore also announced that it has entered into its eighth and ninth Go IPO agreements with Libera Gaming Operations, Inc. (“Libera”) and ICheck Co., Ltd., respectively. (“ICheck”) has completed. Pursuant to the Consultancy Agreements, HeartCore has agreed to assist Libera and ICheck in their efforts to go public and list on the Nasdaq Exchange (“Nasdaq”). Through Go IPO, the Company serves clients by assisting them throughout the law firm screening and hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an IPO or De-SPAC, providing general support services, Assistance with S-1 or F-1 filing preparation and more.
As compensation for its services, HeartCore expects to receive from Libera and ICheck $600,000 each in initial fees and a warrant to acquire 3% of the common stock of Libera and ICheck on a fully diluted basis.
“SBC Medical Group’s most recent valuation represents a total of approximately $32.4 million in warrants for HeartCore,” said Sumitaka Yamamoto, the company’s CEO. “While the initial fees we receive from clients are helpful, we believe the warrants offer exponentially greater value to our business. We are also very proud of our eighth and ninth Go IPO wins and hope to take advantage of our Go IPO flywheel effect illustrated by SBC.”
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About HeartCore Enterprises, Inc.
Headquartered in Tokyo, Japan, HeartCore Enterprises is a leading software development company providing Software as a Service (SaaS) solutions to enterprise customers in Japan and worldwide. The company also offers data analysis services that enable businesses to create customized web experiences for their customers through world-class design. HeartCore’s Customer Experience Management (CXM) platform includes marketing, sales, service, and content management systems, as well as other tools and integrations that enable businesses to improve customer experiences and drive engagement. HeartCore also operates a digital transformation business providing customers with robotic process automation, process mining and task mining to accelerate digital transformation of businesses. In addition, HeartCore offers Go IPO, an advisory service to help private companies uplist on the Nasdaq exchange. More information about the Company’s products and services is available at www.heartcore.co.jp and https://heartcore-enterprises.com/.
Forward-Looking Statements
All statements contained in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some instances, forward-looking statements are identified by words such as “believe,” “intend,” “expect,” “anticipate.” ‘, ‘plan’, ‘potential’, ‘continue’ or similar expressions. Such forward-looking statements involve risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in HeartCore’s filings with the Securities and Exchange Commission. Investors should not place undue reliance on forward-looking statements, which involve known and unknown uncertainties and other factors, some of which are beyond HeartCore’s control that could, and are likely to, cause actual results, activities, performance, or achievements. Any forward-looking statement reflects HeartCore’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to its operations, results of operations, growth strategy and liquidity. HeartCore undertakes no obligation to publicly update or revise any of these forward-looking statements for any reason, or to update the reasons that cause actual results to differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced in this press release are not incorporated herein by reference.
HeartCore Investor Relations contact:
Gateway Group, Inc.
Matt Glover and John Yi
[email protected]
(949) 574-3860
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