Electric Vehicle Company Fly-E Group Reports Pricing Of IPO Of 2.25M Shares Of Its Common Stock At $4.00 Per Share; To Begin Trading On Nasdaq Under Symbol 'FLYE' On June 6
Portfolio Pulse from Benzinga Newsdesk
Electric Vehicle Company Fly-E Group has announced the pricing of its IPO at $4.00 per share for 2.25 million shares, with trading set to begin on Nasdaq under the symbol 'FLYE' on June 6, 2024. The company expects to raise $9.0 million from the offering, which will be used for inventory, production costs, retail expansion, technology, R&D, and general corporate purposes.
June 05, 2024 | 10:08 pm
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Fly-E Group's IPO is priced at $4.00 per share for 2.25 million shares, with trading to begin on Nasdaq under the symbol 'FLYE' on June 6, 2024. The company expects to raise $9.0 million, which will be used for various operational and expansion purposes.
The IPO pricing and the commencement of trading on Nasdaq are significant events for Fly-E Group. The raised funds will support key operational areas, likely boosting investor confidence and positively impacting the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100