K-Tech Solutions (KMRK) shares rose more than 21% in their Nasdaq debut Wednesday after the company priced its initial public offering of 1.6 million class A shares at $4 apiece, for gross proceeds of about $6.4 million.
The underwriter was granted a 30-day option to buy up to 240,000 additional shares at the initial public offering price, K-Tech Solutions said.
Net proceeds from the offering, expected to close around Thursday, would be used for potential investments, including acquisition of a factory in Vietnam or in other Southeast Asian countries, and for general corporate purposes, K-Tech Solutions said.
Price: 4.85, Change: +0.85, Percent Change: +21.25
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