Credo Tech Shares Pop After Completing Its IPO

Credo Technology Group Holding Ltd (NASDAQ:CRDO) completed an initial public offering of 20 million shares at $10.00 per share.
The company raised $183.8 million from the offering.
The underwriters had a 30-day option to purchase additional shares up to 3 million.
Related Content: Credo announces pricing of initial public offering
On February 7, the underwriters exercised the option to purchase additional shares in total.
Credo delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. It provides innovative, secure, high-speed connectivity solutions that deliver improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market.
Price Action: CRDO shares traded higher by 3.92% at $15.79 on the last check Friday.