WASHINGTON (dpa-AFX) - Strong Global Entertainment Inc. (SGE) said that it has priced its initial public offering of 1 million shares of its Class A common voting shares at a public offering price of $4.00 per share, for gross proceeds of $4 million, before deducting underwriting discounts and offering expenses.
In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 150,000 Common Shares to cover over-allotments at the initial public offering price, less the underwriting discount. All of the common shares are being offered by the company.
The shares are expected to begin trading on the NYSE American on May 16, 2023 under the symbol 'SGE.' The offering is expected to close on May 18, 2023.
The company plans to use the net proceeds from the initial public offering for general corporate purposes.
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