01:35 PM EDT, 05/14/2024 (MT Newswires) -- Armlogi Holding (BTOC) shares fell in their trading debut on Nasdaq Tuesday after the company priced its initial public offering of 1.6 million shares at $5 apiece for gross proceeds of $8 million.

The stock was down about 6% at $4.70 in recent trading after opening at $5.0.

The warehousing and logistics service provider granted its underwriters a 45-day option to buy up to 240,000 additional shares.

The offering, with EF Hutton as the sole book-runner, is expected to close Wednesday.

Price: 4.70, Change: -0.30, Percent Change: -6.00