03:34 AM EDT, 04/03/2024 (MT Newswires) -- Alta Global Group ( MMA ) said late Tuesday it closed its initial public offering of 1.3 million ordinary shares priced at $5 apiece, raising gross proceeds of $6.5 million.

Underwriters have been granted a 45-day option to purchase up to 195,000 additional shares.

Net proceeds will be used for marketing and sales, product development, research and development, and other general corporate purposes, the company said.