XCHG Limited Launches Initial Public Offering for $20.7M
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XCHG Limited Launches Initial Public Offering
XCHG Limited (XCH), a prominent player in the integrated electric vehicle (EV) charging sector, has made headlines with the announcement of its exciting initial public offering (IPO). Priced at $6.2 per share, the offering consists of 3,333,335 American Depositary Shares (ADSs), with a total offering value of around $20.7 million. This figure assumes that the underwriter does not make use of the option to purchase additional shares.
For context, each ADS represents 40 Class A ordinary shares with a nominal par value of $0.00001. Investors can look forward to trading on the Nasdaq Global Market, under the ticker symbol “XCH.” Trading is anticipated to commence shortly, marking a significant milestone for the company.
Details of the Offering
What’s particularly noteworthy is that XCHG Limited has also granted the underwriter, US Tiger Securities, Inc., an option to purchase an additional 500,000 ADSs at the same initial public offering price. This option is available within 30 days from the final prospectus issuance. Such provisions can offer flexibility and potentially increase the total amount raised by the offering.
A Look at the Underwriter
US Tiger Securities, Inc. has taken on the role as the sole underwriter for this IPO. Their expertise in navigating public offerings is expected to facilitate a smooth process. As the company embarks on this journey, leveraging experienced underwriters is crucial for future growth and market positioning.
Regulatory Factors
An essential aspect of this offering includes the registration statement filed with the U.S. Securities and Exchange Commission (SEC). This step ensures that regulatory requirements are fully met before the company proceeds with the IPO. Transparency and compliance with SEC regulations will be key in building investor confidence.
Where to Find More Information
Seeking additional details? Once available, copies of the final prospectus will provide comprehensive insights about the offering. Interested parties can obtain this by reaching out to US Tiger Securities, Inc. located at 437 Madison Avenue, 27th Floor, New York, NY 10022, United States, or via telephone at +1-646-921-7031.
Frequently Asked Questions
What is XCHG Limited's IPO price?
XCHG Limited has priced its IPO at $6.2 per share.
How much is XCHG Limited aiming to raise in the IPO?
The company is looking to raise about $20.7 million from the IPO.
What does each ADS represent?
Each ADS represents 40 Class A ordinary shares of XCHG Limited.
Who is the sole underwriter for the IPO?
US Tiger Securities, Inc. is acting as the sole underwriter for the offering.
When is trading expected to commence?
The trading of XCHG Limited's shares is expected to start soon on the Nasdaq Global Market.
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