(RTTNews) - Basel Medical Group Ltd (BMGL), a leading provider of orthopedic and neurosurgical services, Wednesday announced the pricing of its initial public offering or IPO, raising approximately US$8.82 million.
The company is offering 2.205 million ordinary shares at a price of $4.00 per share. The shares are expected to begin trading on the Nasdaq Capital Market under the ticker 'BMGL' on February 25, 2025.
The funds from this offering will be used to support potential mergers and acquisitions, business expansion, including increasing clinic space and enhancing service capabilities, as well as bolstering daily operations and working capital.
Additionally, the company has granted underwriters a 45-day option to purchase up to 330,750 additional shares.
The offering is expected to close on February 26, 2025.
Currently, BMGL is trading at $4.10, down 7.66 percent on the Nasdaq.
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