S&P 500 falls as ongoing government shutdown, trade jitters weigh
Investing.com -- Republic Power Group Limited began trading on the Nasdaq Capital Market Tuesday at $4.20 per share, above its initial public offering price of $4.00 per share.
The company, which provides customized enterprise resource planning software solutions, consulting, technical support services, and peripheral hardware, offered 2,120,000 Class A ordinary shares under the ticker symbol "NASDAQ:RPGL."
Of the total shares offered, 1,250,000 were sold by the company, generating gross proceeds of $5 million before deducting underwriting discounts and related expenses. The remaining 870,000 shares came from selling shareholders, who received gross proceeds of $3.48 million.
Republic Power Group plans to use the net proceeds for research and development, marketing and branding investments, capital expenditures, recruitment of professionals, general corporate purposes, and potential future acquisitions and growth opportunities.
Bancroft Capital, LLC served as the lead managing underwriter and book-runner for the offering.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.