WORK Medical Technology Group Announces The Underwriter Of Its IPO Partially Exercised Its Over-Allotment Option, Bringing The Total Ordinary Shares Sold To 2,091,942 And Gross Proceeds To ~$8.37M
Portfolio Pulse from Benzinga Newsdesk
WORK Medical Technology Group (NASDAQ:WOK) announced that its IPO underwriter partially exercised the over-allotment option, increasing total shares sold to 2,091,942 and gross proceeds to $8.37M. The funds will be used for production upgrades, product development, marketing, patent purchases, and working capital.
August 29, 2024 | 8:41 pm
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WORK Medical Technology Group's IPO underwriter partially exercised its over-allotment option, increasing the total shares sold to 2,091,942 and gross proceeds to $8.37M. The funds will be used for production upgrades, product development, marketing, patent purchases, and working capital.
The partial exercise of the over-allotment option indicates strong demand for WOK's shares, which is a positive signal for investors. The increased proceeds will support the company's growth initiatives, potentially enhancing its market position and financial performance.
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