Majestic Ideal Holdings (MJID) filed for an initial public offering of 2.5 million common shares priced at $6 to $7 apiece.
Underwriters will be granted a 45-day option to purchase up to 375,000 additional shares, the company said Monday in a regulatory filing.
The company applied for a Nasdaq Capital Market listing with the ticker symbol MJID.
Net proceeds from the offering will be used partly to procure raw materials, broaden the customer base and enhance supply chain capabilities, the company said.
Certain investors plan to resell 1.7 million shares, and Majestic Ideal won't receive any proceeds from the sales, according to the filing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.