Fast Track Group (FTRK) said Tuesday it closed its initial public offering of 3.75 million shares at $4 apiece for gross proceeds of $15 million.

Underwriters were granted a 45-day option to purchase up to an additional 562,500 shares, according to a statement.

Shares were up 12% in recent trading.

Price: 3.70, Change: +0.42, Percent Change: +12.80