HAMBURG, Germany, Sept. 10, 2024 (GLOBE NEWSWIRE) -- XCHG Limited ("XCharge" or the "Company") (NASDAQ:XCH), a global leader in integrated EV charging solutions, today announced the pricing of its initial public offering of 3,333,335 American Depositary Shares ("ADSs"), at US$6.2 per ADS, for a total offering size of approximately US$20.7 million, assuming the underwriter does not exercise its over-allotment option to purchase additional ADSs. Each ADS represents 40 Class A ordinary shares, par value $0.00001 per share, of the Company. The ADSs have been approved for listing and are expected to begin trading on the Nasdaq Global Market today under the ticker symbol "XCH." The offering is expected to close on September 11, 2024, subject to customary closing conditions.
In addition, the Company has granted the underwriter an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 500,000 additional ADSs at the initial public offering price.
US Tiger Securities, Inc. is acting as the sole underwriter for the offering.
A registration statement related to these offered securities has been filed ...
