Tottenham Acquisition I Limited Announces Closing of Initial Public Offering

NEW YORK, Aug. 6, 2018 /PRNewswire/ -- Tottenham Acquisition I Limited (NASDAQ: TOTAU, the "Company") announced today that it closed its initial public offering of 4,600,000 units, which included the full exercise of the underwriter's over-allotment option.  The units were sold at $10.00 per unit, resulting in total gross proceeds of $46,000,000.

The units began trading on The NASDAQ Capital Market ("NASDAQ") on August 2, 2018, and trade under the ticker symbol "TOTAU". Each unit consists of one ordinary share, one warrant to purchase one-half of one ordinary share, and one right to receive one-tenth of one ordinary share upon the consummation of the Company's initial business combination. Once the securities comprising the units begin separate trading, the ordinary shares, rights and warrants are expected to be listed on NASDAQ under the symbols "TOTA," "TOTAR," and "TOTAW," respectively.

Chardan acted as sole book running manager in the offering.  I-Bankers Securities, Inc. acted as co-manager.

Loeb & Loeb LLP acted as counsel to the Company and Hunter Taubman Fischer & Li LLC acted as counsel to the underwriters.

About Tottenham Acquisition I Limited

Tottenham Acquisition I Limited is a blank check company formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although the Company intends to focus on operating businesses in the TMT (Technology, Media, Telecom), education, e-commerce, health-care and consumer goods industries with primary operations in Asia (with an emphasis in China).

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on August 1, 2018. The offering was made only by means of a prospectus, copies of which may be obtained by contacting Chardan Capital Markets, LLC, 17 State Street, 21st floor, New York, New York 10004. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these 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 any such state or jurisdiction.

Forward Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company's initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

SOURCE Tottenham Acquisition I Limited

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