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By The Online Investor Staff, updated Tue., Apr. 23, 12:42 PM
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IPOs| This Slide: #3 of 15 |
Slide #3. Tungray Technologies Inc — Initial Public Offering
Company:
Tungray Technologies Inc
Proposed Symbol:
TSRG
Shares Offered:
1,250,000
Price Per Share:
$4.00
Over-Allotment:
187,500
Description:
Tungray Technologies Inc ("Tungray" or the "Company" or "Tungray") (NasdaqCM: TRSG), a provider of customized industrial manufacturing solutions to Original Equipment Manufacturers (OEMs) in the semiconductors, printers, electronics, and home appliances industries, today announced the pricing of its initial public offering (the "Offering") of 1,250,000 Class A ordinary shares at a public offering price of $4 per Class A ordinary share, for total gross proceeds of approximately $5 million, before deducting underwriting discounts and commissions and offering expenses. The Offering is being conducted on a firm commitment basis. The Class A ordinary shares are expected to commence trading on Nasdaq Capital Market under the ticker symbol "TRSG" on April 19, 2024. The Company has granted the underwriter of the Offering an option, exercisable within 45 days from the effective date of the Company's registration statement, to purchase up to an additional 187,500 Class A ordinary shares at the public offering price, less underwriting discounts and commissions. The Offering is expected to close on April 23, 2024, subject to customary closing conditions.
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