05:42 PM EDT, 03/27/2024 (MT Newswires) -- U-BX Technology ( UBXG ) said Wednesday it priced the initial public offering of 2 million shares at $5 a piece.

The company expects to raise $10 million in gross proceeds from the IPO.

The company has granted the underwriter a 45-day option to buy up to an additional 300,000 shares.

The shares are expected to begin trading on Nasdaq on March 28 under the ticker symbol UBXG. The company expects to close the offering by April 1.

Proceeds will be used for research, development, advertising, marketing and general working capital, U-BX ( UBXG ) added.