Summary by Moomoo AI
Reitar Logtech Holdings announced the pricing of its initial public offering of 2,125,000 Class A ordinary shares at $4.00 per share on August 22, 2024. The company's shares are scheduled to begin trading on the Nasdaq Capital Market under the symbol "RITR" on August 23, with the offering expected to close on August 26, 2024.The company plans to use the proceeds for expanding resources, investing in logistics facilities, building R&D capabilities, expanding geographic market coverage, and general corporate purposes. The underwriters have been granted a 45-day option to purchase up to an additional 318,750 Class A Ordinary Shares at the offering price.Cathay Securities, Inc. is serving as the sole book runner and lead underwriter for this firm commitment offering. The IPO is being conducted under the company's Registration Statement on Form F-1, which was declared effective by the SEC on August 16, 2024.
