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Plutus Financial Group (NASDAQ: PLUT) has successfully completed its Initial Public Offering, raising $8.4 million in gross proceeds through the sale of 2,100,000 ordinary shares at $4 per share. The company began trading on the Nasdaq Capital Market under the ticker symbol 'PLUT' on February 5, 2025.
The Hong Kong-based financial services company granted the underwriter a 45-day option to purchase up to an additional 315,000 ordinary shares at the public offering price. R.F. Lafferty & Co. served as lead underwriter, with Revere Securities as co-underwriter. The offering was conducted on a firm commitment basis, with The Crone Law Group and Sichenzia Ross Ference Carmel serving as legal counsel.
Plutus Financial Group (NasdaqCM: PLUT) has announced the pricing of its initial public offering of 2,100,000 ordinary shares at $4 per share, raising gross proceeds of $8.4 million. Trading is set to begin on Nasdaq Capital Market under 'PLUT' on February 5, 2025.
The underwriter has a 45-day option to purchase up to 315,000 additional shares. The offering is expected to close on February 6, 2025. Proceeds will fund: development of software and applications for operations, increased funding for trading facilities solutions, and expansion of customer management and wealth management teams.
R.F. Lafferty & Co. is leading the underwriting, with Revere Securities as co-underwriter. The offering is being conducted on a firm commitment basis.
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