WASHINGTON (dpa-AFX) - U-BX Technology Ltd., an artificial intelligence-driven value-added services and products provider to insurance carriers, said that it has priced its initial public offering of 2 million ordinary shares at $5.00 per share for total gross proceeds of $10 million, before deducting underwriting discounts and other offering expenses.
The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on March 28, 2024, under the ticker symbol 'UBXG'.
The company has granted EF Hutton LLC, the underwriter, an option to purchase up to an additional 300,000 Ordinary Shares at the Public Offering Price, less underwriting discounts, to cover the over-allotment option, exercisable within 45 days from the closing date of the Offering.
The Offering is expected to close on or about April 1, 2024.
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