Ispire Raises $8M Via Equity Offering Aiding Manufacturing Operations

Ispire Technology Inc. ISPR closed a private placement of 1.12 million shares at a purchase price of $7.1318 a piece.

The company raised approximately $8 million in gross proceeds from the private placement. 

Ispire Technology plans to invest the proceeds in manufacturing operations in Vietnam and California, with the execution of research and development activities.

The private placement was completed on June 26, 2023.

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Also Read: Ispire Technology Revenue Grows 26.9% YoY Thanks To Tobacco And Cannabis Vaping Products

In April 2023, Ispire closed the initial public offering of 2.70 million shares of common stock at $7 per share. 

The stock began trading on NASDAQ on April 4, 2023.

Price Action: ISPR shares are trading higher by 9.13% to $8.49 in the premarket session on the last check Tuesday.