© Reuters. Ispire Technology (ISPR) Opens, Trades Higher
Today’s IPO for Ispire Technology Inc. (ISPR) opened for trading at $8.53 after pricing 2,700,000 shares of its common stock offered at a price to the public of $7.00 per share. Shares have since moved to back down to $7.64, representing a 9% gain on the session.
US Tiger Securities, Inc. is acting as sole book-running manager for the Offering. TFI Securities and Futures Limited and Prime Number Capital, LLC are acting as underwriters for the offering.
Ispire is engaged in the R&D, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis vaping products. The Company has or licenses from a related party more than 200 invention/design patents received or filed globally. Ispire’s tobacco products are marketed under the Aspire brand name and are sold worldwide (except in the PRC and Russia) primarily through our distribution network. Ispire’s cannabis products are marketed under the Ispire brand name primarily on an original design manufacturer (ODM) basis to other cannabis vapor companies. Ispire currently sells its cannabis vaping hardware only in the United States, and it recently commenced marketing activities in Canada and Europe, primarily in the European Union.
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