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
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.