Stock Track | Callan JMB Stock Surges 6.25% on IPO Pricing

Stock Track

02-06

Callan JMB Inc. (CJMB) shares soared 6.25% in Wednesday's intraday trading, following the company's announcement of pricing its initial public offering (IPO) of around 1.3 million common shares at $4 per share.

The successful IPO pricing raised approximately $5.1 million in gross proceeds for Callan JMB. The company has granted underwriters a 45-day option to purchase up to an additional 192,000 shares. Callan JMB plans to use the net proceeds from the IPO for sales support, marketing, client expansion, and general corporate purposes.

Callan JMB's shares are expected to start trading on the Nasdaq under the ticker symbol "CJMB" on Wednesday. The company aims to close the IPO offering around Thursday.

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