10:18 AM EDT, 10/11/2024 (MT Newswires) -- XCHG ( XCH ) said Friday that the underwriter of its initial public offering has partially exercised its option to buy an additional 128,888 American Depositary Shares at the IPO price of $6.20 apiece. Each ADS represents 40 Class A shares.

The EV charging solutions company said total gross proceeds from the offering are about $21.5 million, including funds received from the prior closing and exercise of the option. US Tiger Securities was the underwriter for the offering.

Shares of the company were down about 4% in recent trading.

Price: 12.50, Change: -0.52, Percent Change: -3.99