XCHG Limited Announces Partial Exercise of Over-Allotment Option in Initial Public Offering
XCHG Limited - ADS (XCH)
Company Research
Source: GlobeNewswire
HAMBURG, Germany, Oct. 11, 2024 (GLOBE NEWSWIRE) -- XCHG Limited (“XCharge” or the “Company”) (NASDAQ: XCH), a global leader in integrated EV charging solutions, today announced that the underwriter of the Company’s initial public offering (the “IPO”) has partially exercised its option (the “Over-Allotment Option”) to purchase an additional 128,888 American Depositary Shares (“ADSs”) of the Company at the initial public offering price of US$6.20 per ADS. Each ADS represents 40 Class A ordinary shares of the Company. Total gross proceeds to the Company from the offering, including funds received from the prior closing and exercise of this option are approximately $21.5 million, before deducting underwriting discounts, commissions, and other offering expenses payable by the Company. US Tiger Securities, Inc. is acting as the sole underwriter for the offering. A registration statement related to these offered securities has been filed with, and declared effective by, the United State
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