08:16 AM EDT, 03/22/2024 (MT Newswires) -- Ispire Technology ( ISPR ) said Friday that has t priced a public offering of 2.05 million common shares at $6 each for gross proceeds of $12.3 million.

The offering is expected to close around Tuesday.

The company said it intends to use the net proceeds in connection with the establishment and operation of a plant in Malaysia, the funding of a joint venture, and working capital and general corporate purposes.

Ispire ( ISPR ) shares fell more than 26% in recent premarket activity.

Price: 5.95, Change: -2.17, Percent Change: -26.43