WASHINGTON (dpa-AFX) - OrangeKloud Technology Inc. announced the pricing of its initial public offering of an aggregate of 2.75 million shares of its Class A Ordinary Shares at $4.75 per share.
In addition, the company has granted Maxim a 45-day option to purchase up to an additional 412,500 shares of its Class A Ordinary Shares at the initial public offering price, less underwriting discounts and commissions.
If the Over-allotment option is not exercised, OrangeKloud expects to receive approximately $13.1 million in gross proceeds from the Offering, before deducting underwriting discounts, commissions, and estimated offering expenses payable by ORKT.
The shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol 'ORKT' on July 25, 2024. The Offering is expected to close on July 26, 2024, subject to customary closing conditions.
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