Stock Track | Trident Digital Tech Soars 9% After-Hours Following Nasdaq IPO Pricing

Stock Track09-11

Trident Digital Tech Holdings Ltd (TDTH), a Singapore-based digital transformation enabler for small and medium enterprises (SMEs) in the e-commerce and digital optimization services market, witnessed a significant after-hours price surge of 9.14% on September 10, 2024. This comes on the heels of the company's initial public offering (IPO) pricing announcement earlier in the day.

According to reports, TDTH priced its IPO at $5.00 per American Depositary Share (ADS), with each ADS representing eight Class B Ordinary Shares. The offering, underwritten by WallachBeth Capital LLC as the lead underwriter and Revere Securities LLC as the co-manager, aims to raise approximately $9 million, assuming the underwriters do not exercise their option to purchase additional ADSs.

The company's ADSs are expected to commence trading on the Nasdaq Capital Market under the symbol "TDTH" on September 10, 2024, with the closing of the offering anticipated for September 11, 2024, subject to customary closing conditions. While TDTH's ADSs initially opened at $4.50, below the IPO price, the stock rallied significantly in after-hours trading, potentially driven by investor optimism surrounding the company's market prospects and growth potential.

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