Star Fashion Culture Holdings (STFS) said Tuesday it has closed its initial public offering of roughly 2.2 million class A common shares at $4 apiece for gross proceeds of roughly $8.6 million.
Underwriters have a 30-day overallotment option to purchase up to an additional 322,500 shares, the company said.
The company's shares began trading on the Nasdaq Capital Market Oct. 11.
Star Fashion Culture Holdings shares were down nearly 9% in recent trading.
Price: 3.06, Change: -0.30, Percent Change: -8.93
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