WASHINGTON (dpa-AFX) - SharonAI Holdings Inc. said it has priced its U.S. initial public offering of 4.17 million Class A ordinary shares at $30.00 per share, raising gross proceeds of about $125 million.
The Australian neocloud company said all shares in the offering are being sold by the company. SharonAI also granted the underwriter a 45-day option to purchase up to an additional 625,000 shares at the IPO price, less underwriting discounts and commissions.
Shares are expected to begin trading on the Nasdaq Capital Market on February 18 under the ticker symbol 'SHAZ,' with the offering expected to close on or about February 19, subject to customary conditions.
The company plans to use net proceeds from the IPO to acquire additional GPU-focused equipment as well as for working capital and general corporate purposes.
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