Shares of Tryhard Holdings Limited (THH) skyrocketed 81.25% during intraday trading on Thursday, marking a remarkable debut for the Japanese entertainment company on the Nasdaq stock exchange. The explosive surge comes after the company announced the pricing of its initial public offering (IPO) at $4.00 per share.

Tryhard Holdings priced its IPO of approximately 1.5 million shares, with about 1.1 million shares being offered by the company and 457,500 shares by certain selling shareholders. The offering is expected to generate gross proceeds of around $6.1 million. Additionally, underwriters have been granted a 45-day option to purchase up to 228,750 additional shares.

The strong market reaction suggests high investor enthusiasm for Tryhard Holdings, despite the relatively small size of the offering. As a Japanese entertainment company entering the U.S. public markets, THH appears to have captured significant attention from investors looking for exposure to the growing global entertainment industry. The company has stated that the proceeds from the offering will be used for general corporate purposes, potentially fueling further growth and expansion plans.