05:50 PM EDT, 07/01/2024 (MT Newswires) -- Lakeside Holding (LSH) closed its upsized initial public offering of 1.5 million ordinary shares at $4.50 per share, raising gross proceeds of roughly $6.8 million, the company said Monday.

The underwriters have a 30-day option to purchase 225,000 additional shares to cover over-allotments.

The proceeds will be used for improving cross-border supply chain capabilities, marketing activities, strategic investments, M&A deals and general corporate purposes.

Lakeside shares, which began trading on the Nasdaq Friday, were down nearly 3% in recent after-hours activity.

Price: 3.8000, Change: -0.11, Percent Change: -2.81