Top Win International (TOPW) closed its initial public offering of 2.66 million ordinary shares at $4 apiece for gross proceeds of $10.6 million.
Underwriters have a 45-day overallotment option to buy up to 399,600 additional shares at the IPO price, the company said Thursday in a statement.
Net proceeds will be for brand marketing, sales team growth, regional expansion, inventory diversification and general corporate purposes.
The shares debuted Tuesday on Nasdaq. They rose 3.3% in after-hours trading Thursday after slumping 28% to $2.76 in the regular session.
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