Financing ·
CitroTech raises $5.6M via public offering of 2.24M shares at $2.50 per share
CITRCitroTech Inc.
CitroTech Inc. closed an underwritten public offering of 2,240,000 shares of common stock at a price of $2.50 per share, generating approximately $5.6 million in aggregate gross proceeds before deducting underwriting discounts and estimated offering expenses. The company granted the underwriter, Univest Securities, LLC, a 45-day option to purchase up to an additional 336,000 shares at the same price. Net proceeds are intended for working capital and general corporate purposes. CitroTech Inc. manufactures and deploys environmentally safe fire prevention solutions for homes, wood products, and wildfire mitigation.