XCHG Limited Announces Partial Exercise of Over-Allotment Option in Initial Public Offering

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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.

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.

A registration statement related to these offered securities has been filed with, and declared effective by, the United States Securities and Exchange Commission (the "SEC").

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Article Details

Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets: United StatesGermany

Topics: Press Releases News XCH IPOs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-11 @ 13:10:47 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 574 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 22997736

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