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TMD Energy (NYSE: TMDE) has successfully completed its Initial Public Offering (IPO), raising approximately $10.08 million in gross proceeds. The company offered 3,100,000 ordinary shares at $3.25 per share, which began trading on the NYSE American on April 21, 2025.
The Malaysia and Singapore-based company, which specializes in integrated bunkering services including ship-to-ship marine fuel transfers, ship management, and vessel chartering, has granted underwriters a 45-day option to purchase up to 465,000 additional shares to cover potential over-allotments.
The net proceeds will be allocated to three main purposes: purchasing cargo oil, covering listing expenses, and supporting working capital and general corporate needs. Maxim Group served as the sole book-running manager for the offering.
TMD Energy (NYSE American: TMDE), a Malaysia and Singapore-based integrated bunkering services provider, has announced the pricing of its Initial Public Offering (IPO) of 3,100,000 ordinary shares at US$3.25 per share, raising gross proceeds of approximately US$10.08 million.
Trading will commence on April 21, 2025 on the NYSE American under the symbol 'TMDE', with the offering expected to close on April 22, 2025. The underwriter, Maxim Group , has a 45-day option to purchase up to 465,000 additional shares, potentially increasing total gross proceeds to US$11.59 million.
The company plans to use the proceeds for:
- Purchase of cargo oil
- Defraying listing expenses
- Working capital and general corporate purposes
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