Agencia Comercial Spirits (AGCC) priced its initial public offering of 1.75 million Class A ordinary shares at $4 each, raising $7 million in gross proceeds.

Underwriters have a 45-day option to buy up to an additional 262,500 shares at the offering price, the Taiwan-based whisky importer and distributor said Wednesday in a statement.

The shares are expected to begin trading Wednesday on the Nasdaq Capital Market under the ticker AGCC, and the offering is expected to close around Thursday, the company said.

Net proceeds will be used to expand the supplier network, increase bottling and packaging capacity for proprietary brand whisky products, upgrade warehouse facilities, and strengthen inventory capacity, among other corporate purposes, the company said.