LZ Technology (LZMH) said Friday it has closed its initial public offering of 1.8 million Class B ordinary shares at $4 per share, for gross proceeds of about $7.2 million.

The shares started trading on Nasdaq on Thursday under the ticker symbol LZMH, the company said.

Underwriters were given a 45-day option to buy up to an additional 270,000 shares, LZ Technology said.

The company said it will use the net proceeds from the offering for research and development, international expansion, acquisitions, marketing initiatives as well as working capital.