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Raytech Holding (RAY), headquartered in Hong Kong, has successfully closed its $6 million initial public offering (IPO) as of May 17, 2024. The company specialized in the design, sourcing, and wholesale of personal care electrical appliances. The IPO consisted of 1,500,000 ordinary shares at $4 per share, generating gross proceeds of $6 million before deducting underwriting discounts and other expenses. The shares began trading on Nasdaq Capital Market under the ticker symbol 'RAY' on May 15, 2024. Revere Securities served as the representative underwriter, with R.F. Lafferty & Co., Inc. as joint book runner, and Dominari Securities as co-manager. The proceeds will be allocated to brand promotion and marketing, recruitment of personnel, strategic investments and acquisitions, and general working capital.
Raytech Holding (RAY), a Hong Kong-based company specializing in personal care electrical appliances, announced the pricing of its initial public offering (IPO) of 1,500,000 ordinary shares at $4 per share, totaling $6 million. The shares are listed on the Nasdaq Capital Market under the ticker symbol 'RAY'. An additional option for underwriters to purchase 225,000 shares has been granted. The IPO is expected to close on May 17, 2024, subject to customary conditions. Proceeds will be allocated to brand promotion, recruitment, strategic investments, and working capital. Revere Securities acted as a representative for the underwriters.
