The Latest IPO Is an E-Bike Company

EZGO Technologies (NASDAQ:EZGO) launched its initial public offering (IPO) on Tuesday and it was a success for the electric bicycle company with shares of the stock soaring higher…

Here’s everything investors need to know about EZGO Technologies and its IPO.

  • EZGO Technologies is a maker of electric bicycles in China.
  • The company does so through its Cenbird and Dilang brands.
  • It also leverages its Internet of Things (IoT) platform to handle the sale and rental of its electric bikes.
  • Other offerings from the company include battery pack sales, battery transfers, and a charging business.
  • The company launched shares of its stock on the Nasdaq Exchange today under the EZGO ticker.
  • This saw EZGO Technologies offerings a total of 2.8 million shares of EZGO stock for an IPO price of $4 per share.
  • It says that this will result in 11.2 million in gross proceeds from the IPO, before and fees or deductions.
  • The offering also includes a 45-day option for underwriters to acquire an additional 420,000 shares at the IPO price.
  • ViewTrade Securities was the sole manager of the EZGO Technologies IPO.
  • EZGO Technologies says the goal of going public was to raise capital for its business.
  • Founder and CEO Jianhui YE says that…

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