SINGAPORE, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Trident Digital Tech Holdings Ltd. (NASDAQ:TDTH) ("Trident" or the "Company"), a leading digital transformation enabler in the small and medium enterprise, or the SME segment of the e-commerce enablement and digital optimization services market in Singapore, today announced that its previously announced initial public offering (the "Offering") of 1,800,000 American Depositary Shares ("ADSs") at a price to the public of US$5.00 per ADS closed on September 11, 2024. Each ADS represents eight Class B Ordinary Shares of the Company. Trident's ADSs began trading on the Nasdaq Capital Market on September 10, 2024, under the symbol "TDTH."
The Company raised a total of approximately US$9.0 million in gross proceeds from the Offering, before deducting underwriting discounts and commissions as well as other estimated offering expenses. In addition, the Company has granted the underwriters an option, exercisable within 45 days from the date of the final prospectus, to purchase up to an aggregate of 270,000 additional ADSs at the initial public offering price.
WallachBeth Capital LLC acted as Lead Underwriter for the Offering and Revere Securities LLC acted as the Co-Manager for the Offering.
A registration statement on Form F-1 (File No.: 333-274857) relating to the Offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not ...
