CCSC Technology Enhances IPO Success With Full Over-Allotment Option Exercise
Portfolio Pulse from Benzinga Newsdesk
CCSC Technology International Holdings Limited (CCTG) announced the full exercise of the over-allotment option by underwriters in its IPO, resulting in the sale of an additional 206,250 shares at $4.00 each, bringing total gross proceeds to $6.325 million.
February 09, 2024 | 7:13 am
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CCSC Technology's IPO success was bolstered by the full exercise of the over-allotment option, raising total gross proceeds to $6.325 million.
The full exercise of the over-allotment option indicates strong demand for CCTG's shares, likely leading to positive sentiment among investors. This could result in a short-term increase in the stock price as it reflects both successful capital raising and investor confidence.
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