LOBO EV Technologies Ltd. Announces Closing of Initial Public Offering
LOBO EV TECHNOLOGIES LTD. - Ordinary shares (LOBO)
Company Research
Source: GlobeNewswire
WUXI, China, March 25, 2024 (GLOBE NEWSWIRE) -- LOBO EV Technologies Ltd. (Nasdaq: LOBO) (“LOBO” or the “Company”), an innovative electric vehicle manufacturer and seller, today announced the closing of its initial public offering of 1,380,000 ordinary shares, at an initial public offering price of $4.00 per share. Gross proceeds of the offering, prior to deducting underwriting discounts, commissions and offering expenses payable by the Company, were approximately $5.5 million. In addition, LOBO has granted the underwriters a 45-day option to purchase an additional 207,000 ordinary shares at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments. The shares began trading on the Nasdaq Capital Market on March 21, 2024 under the ticker symbol “LOBO.” Kingswood, a division of Kingswood Capital Partners, LLC (“Kingswood”), acted as sole bookrunner for the offering. A registration statement on Form F-1 (File No. 333-270499) relating to
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