Callan JMB (CJMB) said late Tuesday it has priced its initial public offering of about 1.3 million common shares at $4 apiece for gross proceeds of roughly $5.1 million.
The company has granted the underwriters a 45-day option to buy up to an additional 192,000 shares, Callan said, adding that the shares are expected to start trading on the Nasdaq on Wednesday under the "CJMB" ticker.
Callan said it intends to close the offering around Thursday and plans to use the net proceeds mainly for sales support, marketing, client expansion, and general corporate purposes.
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