Gauzy Prices IPO at $17 a Share-February 2024-www.financetom.com

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Gauzy Prices IPO at $17 a Share

Jun 6, 2024 1:12 AM

03:57 AM EDT, 06/06/2024 (MT Newswires) -- Gauzy Ltd. (GAUZ) said Thursday it priced its initial public offering of 4.4 million ordinary shares at $17 per share for total expected gross proceeds of $75 million.

The underwriters have been granted a 30-day option to buy up to 661,765 additional shares.

Net proceeds will be used to fund the expansion of the company's product lines, research and development, advertising and marketing, earn-out payments, working capital, and other general corporate purposes, the company said.

Shares are expected to debut on the Nasdaq Global Market this Thursday under the ticker "GAUZ".

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