Aureus Greenway Holdings Inc. (AGH), an owner and operator of daily fee golf country clubs in Florida, saw its shares soar 8.93% to $4.37 in after-hours trading on Thursday. This surge came on the heels of the company's successful initial public offering (IPO) on the NASDAQ.
On Wednesday, AGH priced its IPO at $4.00 per share, raising approximately $15 million in gross proceeds. The IPO consisted of 3.75 million shares, including 3 million new shares issued by the company and 750,000 shares sold by existing shareholders.
The strong after-hours rally suggests investor enthusiasm for AGH's unique business model of operating approachable golf courses designed to appeal to a wide range of demographics, including locals and tourists in Florida. With its strategic course locations and IPO proceeds to fund growth initiatives, AGH appears well-positioned to capture a significant share of discretionary leisure spending in the state.
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