Xiao-I Corporation completed its Initial Public Offering (IPO) on March 9, 2023, marking its debut on the public market. The company issued 5.7 million American Depository Shares (ADSs) to the public.
Each ADS was offered at a price of $6.80, resulting in gross proceeds of $38.76 million from the offering. This capital infusion is intended to support the company's ongoing operations and strategic initiatives.
The IPO represents a significant milestone for Xiao-I Corporation, providing it with public market access and capital to fuel its growth in the artificial intelligence sector.
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