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iPower Prices IPO at $5/Share

05/12/2021 00:00

03:47 AM EDT, 05/12/2021 (MT Newswires) -- iPower (IPW), a supplier of hydroponic equipment, said Wednesday it has priced its initial public offering of 3.4 million shares at $5 per share for total expected gross proceeds of $16.8 million.

The underwriters have been granted a 45-day option to purchase up to an additional 0.5 million shares.

The offering is expected to close on or about May 14.

Shares will trade on Nasdaq Capital Market under the ticker symbol "IPW."

Price: 17.80, Change: -0.08, Percent Change: -0.43