11:31 AM EDT, 06/21/2024 (MT Newswires) -- Rectitude Holdings (RECT) shares were down nearly 18% in recent Friday trading after debuting on Nasdaq at $4 per share.

Rectitude said Friday it priced its initial public offering at $4 per ordinary share to raise $8 million.

The underwriter was granted a 45-day option to buy up to an additional 300,000 shares at the IPO price, Rectitude said.

The offering is slated to be completed on Monday.

Price: 3.29, Change: -0.71, Percent Change: -17.75