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GlobeNewsWire
6 months ago
Luda Technology Group Limited Announces Closing of the Underwriter's Over-Allotment Option in Connection with its Initial Public Offering
Hong Kong, April 07, 2025 (GLOBE NEWSWIRE) -- Luda Technology Group Limited (the “Company” or “Luda Technology”), (NYSE: LUD), a manufacturer and trader of stainless steel and carbon steel flanges and fittings products, today announced that it closed the sale of an additional 190,000 ordinary shares of the Company, pursuant to the partial exercise of the underwriter's over-allotment option granted in connection with the Company's initial public offering (“IPO”, together with such over-allotment closing, the “Offering”), at the IPO price of $4.00 per share, less underwriting discounts. As a result, the Company has raised aggregate gross proceeds of $10,760,000, including the previously announced IPO gross proceeds of $10,000,000, prior to deducting underwriting discounts and commissions and estimated offering expenses payable by the Company.