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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.