Marwynn Holdings (MWYN) said late Wednesday it priced its initial public offering of 2 million common shares at $4 each, for expected gross proceeds of about $8 million.
The IPO underwriter has a 45-day overallotment option to purchase up to 300,000 additional shares, the supply chain management firm said.
Marwynn expects its shares to begin trading on the Nasdaq Capital Market Thursday under the ticker symbol MWYN. The IPO is expected to close Friday.
The company said it plans to apply the net proceeds towards supply chain improvements and business expansion, among other things.
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