Pitanium (PTNM) shares were gaining on their first day of trading on the Nasdaq exchange Friday.
The beauty and personal care products company said it priced its initial public offering of 1.75 million class A shares at $4 apiece.
A sole underwriter was granted a 45-day overallotment option to purchase up to 262,500 additional class A shares at the IPO price, according to a statement.
The offering is expected to close on June 2, and proceeds will be used to improve customer experience, build new products, explore new suppliers, ramp marketing strategies, and for working capital and general corporate purposes, the company said.
Price: 4.78, Change: +0.78, Percent Change: +19.50
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.