RedCloud said Tuesday it launched a proposed initial public offering of 11 million shares, with the IPO price currently expected at between $4 and $6 per share.
Underwriters will be granted a 30-day option to purchase up to 1.7 million additional shares, the company said.
The company said it plans to list its shares on the Nasdaq Capital Market under the "RCT" ticker symbol.
Net proceeds from the offering will be used for AI capabilities' development, platform upgrade investments, to repay debts, and for working capital and general purposes, according to the company.
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.