RedCloud Holdings plc announced on January 21, 2025, the launch of its proposed initial public offering (IPO) of 11,000,000 ordinary shares. The company intends to list its ordinary shares on the Nasdaq Capital Market under the ticker symbol 'RCT'. The initial public offering price is expected to be between $4.00 and $6.00 per ordinary share.
The net proceeds from the proposed offering are earmarked for several strategic initiatives. These include market expansion efforts, further development of its AI capabilities, and investment in platform upgrades. A portion of the proceeds will also be used to repay debt obligations and for general working capital purposes.
RedCloud may also use a portion of the net proceeds to acquire, license, and invest in complementary products, technologies, or additional businesses. Roth Capital Partners and Clear Street LLC are acting as lead joint book-running managers for the proposed offering.
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