WASHINGTON (dpa-AFX) - Green Circle Decarbonize Technology Limited, a Cayman Islands holding company that develops and manufactures Phase Change Material (PCM-TES) storage system in designs and applying on cooling and heating system though its Hong Kong subsidiary, Boca International Limited, announced the pricing of its initial public offering of 2.50 million ordinary shares at a public offering price of $4.00 per Share.
The shares are expected to begin trading on the NYSE American Market on January 13, 2026, under the ticker symbol GCDT.
The company expects to receive aggregate gross proceeds of $10 million from this Offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by the company. In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 375,000 Shares at the public offering price, less the underwriting discounts.
The company plans to use the net proceeds of the Offering for construction of a factory to expand its production capacity the acquisition of necessary machinery for production; repayment of certain indebtedness and borrowings; and general working capital purposes.
The offering is expected to close on January 14, 2026, subject to the satisfaction of customary closing conditions.
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