WASHINGTON (dpa-AFX) - Callan JMB Inc. (CJMB), an integrative logistics company empowering the healthcare industry and emergency management agencies through exceptional fulfillment, storage, monitoring, and cold chain logistics services, said that it has priced its initial public offering of 1.28 million shares of common stock at an initial public offering price of $4.00 per share, generating approximately $5.12 million in gross proceeds. This amount is before deducting underwriting discounts, commissions, and estimated offering expenses payable by the company.
In addition, Callan has granted the underwriters a 45-day option to purchase,at the public offering price, up to an additional 192,000 shares of Common Stock at the public offering price, less the underwriting discounts and commissions.
The shares are expected to begin trading on the Nasdaq Capital Market on February 5, 2025, under the ticker symbol CJMB. The offering is expected to close on or about February 6, 2025, subject to the satisfaction of customary closing conditions.
The company plans to use the net proceeds of the Offering primarily for sales support, marketing, customer expansion and general corporate purposes, including working capital.
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