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LOBO EV Technologies Ltd. ("LOBO" or the "Company"), an innovative electric vehicle manufacturer and seller, today announced the pricing of its initial public offering of 1,380,000 ordinary shares, at a public offering price of $4.00 per share. Gross proceeds of the offering, prior to deducting underwriting discounts, commissions and offering expenses payable by the Company, are expected to be approximately $5.5 million. In addition, LOBO has granted the underwriters a 45-day option to purchase an additional 207,000 ordinary shares at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments.
The shares are expected to begin trading on the Nasdaq Capital Market on March 21, 2024 under the ticker symbol "LOBO." The closing of the public offering is expected to take place on or about March 25, 2024, subject to the satisfaction or waiver of customary closing conditions.
Kingswood, a division of Kingswood Capital Partners, LLC ("Kingswood"), is acting as sole bookrunner for the offering.
Posted In: LOBO
