Ten-League International Prices IPO at $4 per Share

MT Newswires Live

07/08

Ten-League International (TLIH) said Tuesday it priced its initial public offering of about 2.2 million shares at $4 per share.

The offering consists of about 1.6 million company shares and 632,160 shares by selling shareholders, according to Ten-League.

The company said the shares are set to begin trading Tuesday under the ticker "TLIH" on Nasdaq and the offering is expected to close around Wednesday.

Ten-League said it expects to raise around $6.4 million in gross proceeds, which will fund product expansion, automation upgrades, strategic acquisitions, marketing, debt repayment, and general corporate purposes.

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