02:44 PM EDT, 07/26/2024 (MT Newswires) -- OrangeKloud Technology ( ORKT ) said Friday it has closed its initial public offering of roughly 2.8 million shares at $4.75 apiece, for gross proceeds of roughly $13.1 million.

Underwriters have a 45-day overallotment option to purchase up to an additional 412,500 shares. If underwriters exercise the option, gross proceeds are expected to be approximately $15.0 million.

The company's shares began trading on the Nasdaq Capital Market Thursday.

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