Market Newsdesk

Jakarta, Indonesia, Aug. 18, 2025 (GLOBE NEWSWIRE) — NusaTrip Incorporated (“NusaTrip,” “NUTR” or the “Company”), a travel ecosystem with geographical specialization in Southeast Asia and Asia-Pacific, today announced the closing of its previously announced initial public offering of an aggregate 3,750,000 shares of Common Stock (“the Offering”) at a price of $4.00 per share (“the Offering Price”) to the public, for a total of $15.0 million of gross proceeds to the Company, before deducting underwriting discounts and offering expenses.

NusaTrip intends to use net proceeds from the Offering for expansion into new markets, merger and acquisition initiatives, and working capital and other general corporate purposes.

The shares began trading on the Nasdaq Capital Market on August 15, 2025, under the symbol “NUTR.” 

Cathay Securities, Inc. acted as the sole underwriter for the Offering. Loeb & Loeb LLP acted as U.S. legal counsel to the Company, and VCL Law LLP acted as U.S. legal counsel to Cathay Securities, Inc.

“We are gratified to close this Offering,” said NusaTrip CEO Tjin Patrick Soetanto. “There’s never been a better time to be in the online travel market in Southeast Asia. With SEA’s disposable income and internet penetration booming, we believe the future is quite bright for our sector. And, with the strategic and technological advantages we hold over the majority of our peers, we think the next few years will feature significant growth for our Company.”

Mr. Soetanto added that several independent research studies have concurred that Southeast Asia’s online travel market is likely to grow strongly in the next several years. One such study, published in November 2024 by Statista, projected that this market would grow from a value of US$46 billion in 2024 to US$79 billion by 2030, a CAGR of 9.4%.

Raynauld Liang, the CEO of Society Pass, the controlling shareholder of NusaTrip Incorporated, stated, “We decided in 2024 to spin off NusaTrip as a public company because we saw its potential to achieve accelerated growth in an online travel market that was growing strongly in our region as well as across the Asia Pacific. Today, we’re even more convinced that NusaTrip can and will achieve this goal.”

The Offering was conducted pursuant to the Company’s registration statement on Form S-1 (Registration No. 333-285997), as amended, previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on August 8, 2025. This offering was made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to this offering, when available, may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, a copy of the final prospectus relating to this offering, when available, may be obtained from Cathay Securities, Inc. at 40 Wall Street, Suite 3600, New York, NY 10005, or by telephone at 1-855-939-3888.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or 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.

About NusaTrip Incorporated

Established in 2015 and headquartered in Jakarta, Indonesia, NusaTrip Incorporated is a travel ecosystem with geographical specialization in Southeast Asia (SEA) and Asia-Pacific (APAC). NusaTrip is an acquisitions-focused company. Mergers and acquisitions of offline travel agencies play a pivotal role in our growth strategy. We have demonstrated an ability to execute accretive and synergistic acquisitions as well as integrate and fundamentally improve our acquired businesses. We have completed acquisitions of VLeisure and VIT, both travel companies in Vietnam. We will continue to focus on the acquisition of other synergistic companies, and we are currently looking to acquire travel agencies operating in PRC, Hong Kong, Philippines, Thailand, Singapore, Malaysia, India, and UAE. We aim to bring travelers from the rest of the world to SEA and APAC (inbound travel) and bring travelers from SEA and APAC to the rest world (outbound travel).

We are the first Indonesian-based online travel agent (OTA) in Indonesia to receive International Air Transport Association (IATA) accreditation. IATA gives OTA’s access to all airline fares and inventories. For being the first IATA-accredited OTA in Indonesia, we have first-hand fares from both full-service and low-cost carriers.

Please visit the Company’s website at: https://www.nusatrip.com/

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the completion and timing of closing of the offering and the intended use of the proceeds. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent NusaTrip Incorporated’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including the trading price and volatility of NusaTrip Incorporated’s common stock and risks relating to NusaTrip Incorporated’s business and the satisfaction of closing conditions in the underwriting agreement related to the offering.

For a further description of the risks and uncertainties relating to NusaTrip Incorporated’s business in general, see the final prospectus related to the Offering and NusaTrip Incorporated’s current and future reports filed with the SEC.

Contact Information:

NusaTrip Incorporated

Tjin Patrick Soetanto
Chief Executive Officer
[email protected]

Yee Siong Tan
Chief Financial Officer
[email protected]

Skyline Corporate Communications Group, LLC

Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835 x2
Email: [email protected]

SCOTTSDALE, Ariz., Aug. 18, 2025 (GLOBE NEWSWIRE) — Black Rock Coffee Bar, Inc. (“Black Rock Coffee Bar”) today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of its Class A common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Black Rock Coffee Bar has applied to list its Class A common stock on the Nasdaq Global Market under the ticker symbol “BRCB.”

J.P. Morgan, Jefferies, Morgan Stanley and Baird will act as lead book-running managers for the proposed offering. Stifel and William Blair will act as additional book-running managers and Raymond James is acting as lead manager for the proposed offering.

The proposed offering will be made available only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email: [email protected]; Jefferies LLC by mail at Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Robert W. Baird & Co. Incorporated., 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202, Attn: Syndicate Department, by telephone at (800) 792-2473, or by email at [email protected].

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does 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 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.

About Black Rock Coffee Bar

Black Rock Coffee Bar is a high-growth operator of guest-centric, drive-thru coffee bars offering premium caffeinated beverages and an elevated in-store experience crafted by our engaging baristas. Black Rock Coffee Bar was founded in 2008 in Beaverton, Oregon. What started as a single 160 square foot coffee bar in 2008 is now one of the fastest growing beverage companies in the United States by revenue and the largest fully company-owned coffee retailer in the country, with more than 150 locations spanning seven states from the Pacific Northwest to Texas.

Black Rock Coffee Bar:

Will MacIntosh
[email protected]
(541) 208-1860

CHICAGO, Aug. 18, 2025 (GLOBE NEWSWIRE) — Cosmos Health Inc. (“Cosmos Health” or the “Company”) (NASDAQ:COSM), a diversified, vertically integrated global healthcare group, announced today its financial results for the second quarter and six-month period ended June 30, 2025.

Financial Highlights for the Three and Six Months Ended June 30, 2025

Income Statement

Cosmos Health continued its positive trajectory in Q2 2025, delivering double-digit revenue growth of 11.66% and a 51.60% increase in gross profit. The Company remains on track to meet its profitability targets, driven by strong performance across multiple business units. For the first half of 2025, gross profit rose 53.00% to $3.21 million, with gross margin expanding by 374 basis points. Adjusted profitability also improved, with net loss narrowing, supported by higher-margin revenue growth and reduced cash operating expenses.

• Revenue for Q2 2025 was $14.75 million, an increase of 11.66% from $13.21 million in Q2 2024, and for the first half of 2025 revenue was $28.46 million, up 2.4% from $27.79 million in the prior-year period.
• Gross profit rose 51.60% year-over-year in Q2 2025 to $1.16 million, up from $0.77 million in the prior-year period, and for the first half of 2025 gross profit increased 53.0% to $3.21 million, compared to $2.10 million in the prior-year period.
• Gross margin expanded by 208 basis points to 7.89% in Q2 2025, compared to 5.81% in Q2 2024, and for the first half of 2025 gross margin expanded by 374 basis points to 11.30%, compared to 7.56% in the prior-year period.
• Total operating expenses were $3.81 million in Q2 2025, an increase from $3.27 million in Q2 2024, and for the first half of 2025 total operating expenses were $6.69 million, compared to $6.44 million in the prior-year period.
  • Adjusted for non-cash items, cash operating expenses declined in the first half of 2025.
• EBITDA remained stable at ($2.19 million) in Q2 2025, compared to ($2.04 million) in Q2 2024, and for the first half of 2025 EBITDA improved to ($2.59 million), compared to ($3.52 million) in the prior-year period.
• Adjusted EBITDA was essentially unchanged at ($1.31 million) in Q2 2025, compared to ($1.32 million) in Q2 2024, and for the first half of 2025 adjusted EBITDA improved to ($1.14 million), compared to ($1.96 million) in the prior-year period.
• Adjusted net income (loss) was ($1.60 million) in Q2 2025, compared to ($1.56 million) in the prior-year period, and for the first half of 2025 adjusted net loss narrowed to ($1.52 million), compared to ($2.26 million) in the prior-year period.

Balance Sheet

Total assets grew to $61.84 million, supporting an increase in stockholders’ equity to $26.23 million and reinforcing the Company’s strong capital base. The liabilities-to-assets ratio remained at a prudent 57.6%, underscoring continued financial discipline.

• Total assets increased by 13.9% to $61.84 million as of June 30, 2025, up from $54.31 million at year-end 2024, reflecting enhanced liquidity and a diversified asset base supported by a solid real estate and intellectual property portfolio.
• Total liabilities were $35.60 million as of June 30, 2025, compared to $29.78 million at year-end 2024, primarily reflecting the use of credit facilities and financing arrangements to support business growth.
• Total stockholders’ equity increased to $26.23 million from $24.53 million at year-end 2024, reflecting a stronger capital base.

Management Commentary

Greg Siokas, CEO of Cosmos Health, stated: “We are pleased with our Q2 results and the steady progress achieved across multiple strategic areas. The quarter was marked by double-digit revenue growth, a substantial increase in gross profit, and continued gross margin expansion. Our asset base also expanded notably, accompanied by an increase in stockholders’ equity.

Looking ahead, we remain laser-focused on driving efficiencies across the business, which we anticipate will yield tangible results and position us well to achieve cash flow positive status, a key turning point for Cosmos.

Lastly, we are particularly excited about the recently announced financing facility of up to $300 million, which enables us to build a leading portfolio of digital assets while also providing growth capital to accelerate our expansion plans. We have already completed our first purchases of Ethereum and look forward to fully leveraging this facility to position Cosmos as a significant player in the crypto space.”

(*) See “Definitions of Non-GAAP Measures” and “Reconciliation of Non-GAAP Measures” sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release.

Definitions of Non-GAAP Measures

We collect and analyze operating and financial data to evaluate the health of our business and assess our performance. In addition to Revenue, Income (Loss) from Operations and Net Income (Loss) under GAAP, we use: EBITDA, Adjusted EBITDA, and Adjusted Net Income (Loss). We have included these non-GAAP financial measures because they are key measures used by our management to evaluate our operating performance. Accordingly, we believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and Board of Directors. Our calculation of these non-GAAP financial measures may differ from similarly titled non-GAAP measures, if any, reported by our peer companies. These non-GAAP financial measures should not be considered in isolation from, or as substitutes for, financial information prepared in accordance with GAAP.

Adjusted EBITDA

We define Adjusted EBITDA as Income (Loss) before Income Taxes, excluding (i) depreciation and amortization expense, (ii) interest income (expense), (iii) non-cash interest expense, (iv) stock-based compensation expense, (v) non-recurring and extraordinary items, (vi) other income (expense), net, (vii) gain (loss) on equity investments, net, (viii) gain on extinguishment of debt, (ix) change in fair value of derivative liability, (x) foreign currency transaction, net, and (xi) prior years bad debt allowances.

We have included Adjusted EBITDA because it is a key measure used by our management team to evaluate our operating performance, generate future operating plans, and make strategic decisions. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and Board of Directors. In addition, it provides a useful measure for period-to-period comparisons of our business, as it removes the effect of certain non-cash expenses and non-recurring and extraordinary items.

Adjusted EBITDA has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for the related financial information prepared in accordance with GAAP.

Adjusted Net Income (Loss)

We define Adjusted Net Income (Loss) as Adjusted EBITDA (see above) adding provision for income taxes and deducting interest expense.

Adjusted Net Income has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for the related financial information prepared in accordance with GAAP.

Reconciliation of Non-GAAP Measures

Adjusted EBITDA & Adjusted Net Income (Loss)

The following table presents reconciliations of Adjusted EBITDA & Adjusted Net Income (Loss) to the most directly comparable GAAP financial measure for each of the periods indicated.

About Cosmos Health Inc.
Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept® and C-Scrub®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, www.zipdoctor.co, www.cloudscreen.gr, as well as LinkedIn and X.

Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could”, are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Such forward-looking statements include, but are not limited to, the Company’s expectation that accumulation of ETH will enhance long-term shareholder value through increasing ETH-per-share, the Company’s plans to explore additional yield-generating strategies to optimize cash flow and utility from ETH holdings, that the Facility will provide access to growth capital to support a range of strategic initiatives, including accelerated product development, advanced R&D innovation, enhanced commercial initiatives, and the Company’s planned entry into U.S. manufacturing and the anticipated use of proceeds. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company’s ability to raise sufficient financing to implement its business plan, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:

BDG Communications
[email protected]