MMTec, Inc. Announces Pricing of a 1.8 Million Share Firm Commitment Initial Public Offering
MMTec, Inc. - Common Shares (MTC)
Company Research
Source: PR Newswire
BEIJING, Jan. 8, 2019 /PRNewswire/ -- MMTec, Inc. (the "Company") today announced the pricing of a U.S. underwritten initial public offering ("IPO") of 1,800,000 shares at a price to the public of $4.00 per share. The shares will begin trading on The NASDAQ Capital Market on January 8, 2019 under the ticker symbol "MTC." The Company expects to receive aggregate gross proceeds of approximately $7.2 million from this offering, before deducting underwriting discounts, commissions and other related expenses. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 270,000 common shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about January 10, 2019, subject to customary closing conditions. Proceeds from the offering will be used for research and development, sales and marketing, and working capital and general corporate purposes. WestPark Capital, Inc. acted as the book r
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