11:53 AM EDT, 10/23/2024 (MT Newswires) -- Oriental Rise Holding (ORIS) said Wednesday that the underwriter of its initial public offering, US Tiger Securities, fully exercised its overallotment option and acquired 262,500 additional shares of the company at $4 apiece.

The tea product supplier said it has now raised about $8.1 million in IPO gross proceeds through the issuance of roughly 2 million shares.

The company's shares were down more than 7% in recent trading.

Price: 8.70, Change: -0.69, Percent Change: -7.35