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Investing.com -- TryHard Holdings Limited shares began trading on the Nasdaq Capital Market Thursday at $7.25 per share, representing an 81% premium over its initial public offering price of $4.00.
The Japanese lifestyle entertainment company sold 1,525,000 ordinary shares in its IPO, raising approximately $6.1 million before deducting underwriting discounts and related expenses. Of the total shares offered, 1,067,500 came from the company while 457,500 were offered by selling shareholders.
TryHard, which operates under the ticker symbol "NASDAQ:THH", has granted underwriters a 45-day option to purchase up to an additional 228,750 ordinary shares to cover potential over-allotments. US Tiger Securities served as the sole book runner for the offering.
The company plans to use the proceeds for business development and marketing initiatives, strategic acquisitions or joint ventures, and working capital needs.
TryHard’s business operations span multiple entertainment segments in Japan, including event curation, consultancy and management services, sub-leasing of entertainment venues, and restaurant ownership and operation.
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