04:45 AM EDT, 10/02/2024 (MT Newswires) -- Wellchange Holdings said late Tuesday it priced its initial public offering of 2 million shares at $4 per share.

Of the 2 million shares, 1.1 million are being offered by the company, while the remaining 900,000 are being offered by a selling shareholder.

The company expects to raise gross proceeds of $4.4 million from the offering, which is set to close around Thursday.

Underwriters have been granted a 45-day option to purchase up to an additional 165,000 shares.

The company said the shares are expected to begin trading on the Nasdaq Capital Market this Wednesday under the ticker symbol, "WCT."

Proceeds from the offering will be used to improve service capacity and core software technologies, expand the SaaS platform, and support marketing efforts, among others.