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Callan JMB (NASDAQ: CJMB) has announced the pricing of its initial public offering of 1,280,000 shares at $4.00 per share, aiming to raise approximately $5.12 million in gross proceeds before deducting underwriting costs and offering expenses.
The company has granted underwriters a 45-day option to purchase up to an additional 192,000 shares at the public offering price. Trading is expected to begin on the Nasdaq Capital Market on February 5, 2025, under the ticker symbol 'CJMB', with the offering closing around February 6, 2025.
The net proceeds will be used for sales support, marketing, customer expansion, and general corporate purposes, including working capital. Alexander Capital is serving as the managing underwriter, with Paulson Investment Company as joint book-runner.
