10:47 AM EDT, 10/23/2024 (MT Newswires) -- UP Fintech Holding ( TIGR ) said Wednesday it expects to raise $90 million from the sale of 15 million American depositary shares at $6.25 apiece in a public offering.

Underwriters have a 20-day option to buy up to 2.25 million additional ADSs, the company said.

The company expects to use net proceeds from the offering, due to close Thursday, to support its capital base and business development activities.

The company's shares fell 5.6% in recent trading Wednesday.

Price: 6.09, Change: -0.36, Percent Change: -5.61