Concorde International Group (CIGL) said Tuesday it priced its initial public offering of 1.25 million class A ordinary shares at $4 per share for gross proceeds of $5 million.

The company said underwriters were granted a 45-day option to buy an additional 187,500 shares.

Proceeds from the offering, set to close around Wednesday, will support the rollout of electric vehicular mobile command centers, R&D, market expansion, product development, and general corporate use, Concorde said.

The stock is expected to begin trading on the Nasdaq Capital Market Tuesday under the ticker symbol "CIGL," the company said.