Update: Top Wealth Group Shares Surge after Closing $8 Million IPO

MT Newswires Live10-11

(Updates with pre-market price movement in the headline and first and second paragraphs).

Top Wealth Group (TWG) rallied in Friday's pre-market after the company closed its initial public offering of 2 million shares priced at $4 per share.

Shares of the caviar supply company were up over 105% after saying it received gross proceeds of $8 million from the IPO.

Shares of the company are now trading on the Nasdaq Capital Market under the ticker symbol "TWG."

The company has also granted underwriters of the offering a 45-day option to purchase up to an additional 300,000 ordinary shares at the public offering price.

Proceeds from the offering will be used for expansion, marketing, and general working capital.

Price: 4.3303, Change: +2.22, Percent Change: +105.23

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