Uni-Fuels Holdings (UFG) said Tuesday it has priced an underwritten initial public offering of 2.1 million Class A ordinary shares at $4 apiece for $8.4 million worth of gross proceeds.
The shares will likely start trading Tuesday on the Nasdaq Capital Market, the company said, adding that the offering will likely close on Wednesday.
Uni-Fuels also said it has offered the underwriters a 45-day option to buy up to an additional 315,000 Class A ordinary shares.
Net proceeds will be used to scale up Uni-Fuels' reselling activities, expand its market presence, and for general corporate purposes, the company said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.