Hanryu Holdings closes IPO of 877,328 shares at $10.00, raising $8.8M gross

Global Interactive Technologies, Inc.

IPO of 877,328 shares closed on August 3, 2023; stock began trading on Nasdaq under HRYU on August 1.
Gross proceeds $8.8M; net proceeds approximately $6.8M after underwriting discounts and expenses.
Underwriter Aegis Capital Corp. has 45-day option to purchase up to 131,599 additional shares.
Proceeds to be used for working capital, engineering, sales & marketing, and capital expenditures.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Global Interactive Technologies, Inc. entered into Underwriting Agreement with Aegis Capital Corp. valued at Offering price $10.00 per share; 877,328 shares sold; option for up to 131,599 additional shares; ne (effective 2023-07-31).

Action: entry
Agreement: underwriting
Counterparty: Aegis Capital Corp.
Value: Offering price $10.00 per share; 877,328 shares sold; option for up to 131,599 additional shares; ne
Effective: 2023-07-31

Exact text from the filing

On July 31, 2023, in connection with the IPO, the Company entered into an underwriting agreement (the “ Underwriting Agreement ”) with Aegis Capital Corp. (the “ Underwriter ”).

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Global Interactive Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-063755

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