Inlif (INLF) said Friday it has closed its initial public offering of 2 million common shares at $4 apiece for gross proceeds of $8 million.
Underwriters have a 45-day overallotment option to purchase up to an additional 300,000 shares, the company said.
Net proceeds will be allocated toward the construction of a 5G digital intelligent equipment production base, setting up 24 local marketing and service offices, construction of a research and development center and working capital.
The company's shares began trading on the Nasdaq Capital Market Jan. 2.
Inlif shares were up 16% in recent trading.
Price: 5.16, Change: +0.71, Percent Change: +16.00
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