BUUU Group announces partial exercise of underwriter’s over-allotment option

* BUUU Group (NASDAQ:BUUU [https://seekingalpha.com/symbol/BUUU]) on Wednesday announced the partial exercise of the over-allotment option by the underwriter of its initial public offering to purchase an additional 175,000 Class A ordinary shares at the public offering price of $4.00 per share and the closing of such issuance.
* The Class A Ordinary Shares commenced trading on Nasdaq on August 14 under the symbol “BUUU.”
* The company received aggregate gross proceeds of $700,000 from this over-allotment closing, and the aggregate gross proceeds from the offering increased to $6.7 million.
* The company intends to use the net proceeds for enhancing its brand recognition, strengthening marketing initiatives, integrating advanced technologies into its operations, and expanding into the U.S. and Southeast Asia markets, among others.
* BUUU -2.29% after hours to $6.8.
* Source: Press Release [https://seekingalpha.com/pr/20220343-buuu-group-limited-announces-partial-exercise-of-underwriter-s-over-allotment-option]

MORE ON BUUU GROUP LIMITED

* Financial information for BUUU Group Limited [https://seekingalpha.com/symbol/BUUU/income-statement]