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WORK Medical Technology Group (Nasdaq: WOK), a Chinese medical device supplier, announced the partial exercise of the underwriter's over-allotment option for its initial public offering. This resulted in the sale of an additional 91,942 ordinary shares at $4.00 per share. The total shares sold increased to 2,091,942, raising gross proceeds to approximately $8.37 million. The option closing date was August 29, 2024, with trading on Nasdaq Capital Market beginning on August 23, 2024. Proceeds will fund production upgrades, product development, marketing, patent purchases, and working capital. Kingswood Capital Partners, acted as the sole book running manager for the offering conducted on a 'firm commitment' basis.
WORK Medical Technology Group (Nasdaq: WOK), a Chinese medical device supplier, has successfully closed its initial public offering (IPO) on August 26, 2024. The company offered 2,000,000 ordinary shares at $4.00 per share, raising approximately $8.00 million in gross proceeds. Trading began on the Nasdaq Capital Market on August 23, 2024, under the ticker symbol 'WOK'. The underwriters have a 45-day option to purchase up to 300,000 additional shares. Proceeds will fund production upgrades, product development, marketing, patent purchases, and working capital. Kingswood Capital Partners, acted as the sole book-running manager for this firm commitment offering.
WORK Medical Technology Group , a Chinese medical device supplier, has announced the pricing of its initial public offering (IPO) on the Nasdaq Capital Market. The company is offering 2,000,000 ordinary shares at US$4.00 per share, aiming to raise US$8.00 million in gross proceeds. Trading is expected to commence on August 23, 2024, under the ticker symbol 'WOK'. The underwriters have a 45-day option to purchase an additional 300,000 shares. Funds will be used for upgrading production equipment, increasing capacity, developing new products, marketing, patent purchases, and working capital. Kingswood Capital Partners, is acting as the sole book-running manager for this firm commitment offering.
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