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WestPark Capital Announces Closing and Exercise of the Over Allotment of an $8.2 million Firm Commitment IPO for MMTec Inc.

January 10, 2019

LOS ANGELES, Jan. 10, 2019 (GLOBE NEWSWIRE) -- WestPark Capital today announced the completion of a firm commitment IPO for MMTec Inc. (NASDAQ: MTC) with gross proceeds of $8.28 million. The offering was priced at $4.00 per share and began trading on January 8, 2019 and closed at $7.55 on the second day of trading. The underwriters have exercised their over-allotment option to purchase an additional 270,000 shares of common stock from the Company.

WestPark Capital was the Sole Book Running Manager of the offering.

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

About WestPark Capital

WestPark Capital is a full-service investment bank focused on emerging growth sectors such as healthcare, software, technology, biotechnology, financial services, manufacturing, consumer products, media and telecom industries, among other categories. WestPark Capital provides a comprehensive range of corporate finance services, including initial public offerings, follow-on offerings, private placements, SIPOs and corporate finance advisory services. Additional information about WestPark Capital is available at www.wpcapital.com or at info@wpcapital.com.

About MMTec, Inc.

MMTec, Inc., through its operating entity, Gujia (Beijing) Technology Co., Ltd., provides comprehensive, Internet-based technology services and solutions to the Chinese language speaking hedge funds, mutual funds, registered investment advisors, proprietary trading groups, and brokerage firms engaging in securities market transactions and settlements globally. These services are offered through several platforms, including the ETN Counter Business System, the PTN Private Fund Investment Management System, the Personal Mobile Transaction Client System, the PC Transaction Client System, the Individual and Institutional Integrated Account Management System, and the Quantitative Investment Transaction Platform. The Company is headquartered in Beijing, China. For additional information about the Company please refer to its corporate website at http://www.51mm.com.

Contact: WestPark Capital, Inc. Richard Rappaport, CEO (310) 843-9300

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