iOThree Limited announced the pricing of its Initial Public Offering (IPO) on April 9, 2025, offering an aggregate of 2,100,000 ordinary shares at a public offering price of US$4.00 per share. The company offered 1,650,000 of these shares, expecting to receive gross proceeds of US$6.6 million before deducting underwriting discounts and other related expenses. This event set the stage for the company's public market debut.
The company's ordinary shares began trading on April 10, 2025, on the Nasdaq Capital Market under the ticker symbol 'IOTR'. The offering was expected to close on April 11, 2025, subject to customary closing conditions. This public listing provides iOThree with increased visibility and access to capital markets.
iOThree intends to use the net proceeds from the offering for several strategic initiatives, including solution development to expand its JARVISS offerings and obtaining class approvals from major maritime organizations. Funds are also allocated for marketing and branding efforts, such as expanding its commercial sales team, and for general working capital purposes. This capital infusion is crucial for the company's planned growth and market expansion.
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