Pitanium (PTNM) shares were gaining on their first day of trading on the Nasdaq exchange Friday.

The beauty and personal care products company said it priced its initial public offering of 1.75 million class A shares at $4 apiece.

A sole underwriter was granted a 45-day overallotment option to purchase up to 262,500 additional class A shares at the IPO price, according to a statement.

The offering is expected to close on June 2, and proceeds will be used to improve customer experience, build new products, explore new suppliers, ramp marketing strategies, and for working capital and general corporate purposes, the company said.

Price: 4.78, Change: +0.78, Percent Change: +19.50