Green Circle Decarbonize Technology Closes $10 Million IPO
MT Newswires Live
8 hours ago
Green Circle Decarbonize Technology (GCDT) Wednesday said it closed its initial public offering of 2.5 million shares priced at $4 per share for gross proceeds of $10 million.
The underwriters were granted a 45-day option to purchase up to 375,000 additional shares at the public offering price, the company said.
Green Circle Decarbonize Technology said it intends to use the net proceeds for construction of a factory to expand its production capacity, acquisition of necessary machinery, and repayment of certain borrowings, among others.
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.