EShallGo Inc. (NASDAQ:EHGO) shares surged 11.35% to $4.12 after the bell on Wednesday after the office solutions provider announced a registered direct offering of 454,968 Class A Ordinary Shares at $3.25 per share.
The Shanghai-based company expects gross proceeds of approximately $1.48 million before placement agent fees and other expenses. The offering is expected to close on or about Thursday, subject to customary closing conditions.
New York-based boutique full-service investment bank Univest Securities, LLC, is acting as the sole placement agent.
Trading Metrics, Technical Analysis
EShallGo has a market capitalization of $7.60 million, with a 52-week high of $16.16 and a 52-week low of $1.18.
