Robot Consulting Closes $15 Million IPO

MT Newswires Live

07/19

Robot Consulting (LAWR) said late Friday it closed its initial public offering of about 3.8 million American Depositary shares at $4 apiece for gross proceeds of $15 million.

The company granted underwriters a 45-day overallotment option to buy up to an additional 562,500 shares, according to a statement.

The company plans to use the net proceeds to increase its workforce, invest in research and development, and for general corporate purposes

The depositary shares began trading on Nasdaq on Thursday under the ticker LAWR.

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