Gelteq (GELS) Closes $5.2M IPO

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Go back to Gelteq (GELS) Closes $5.2M IPO

Gelteq Limited Closes US$5.2 Million Initial Public Offering

October 30, 2024 10:00 AM EDT

NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Gelteq Limited (Gelteq or the Company), a global biotechnology company that specializes in the formulation, development, and manufacturing of ingestible gel technology, announced today the closing of its initial public offering of 1,300,000 ordinary shares at a public offering price of US$4.00 per share. The ordinary shares commenced trading on the Nasdaq Global Market on October 29, 2024 under the symbol GELS.

The gross proceeds from the offering, before deducting underwriting fees and other offering expenses payable by the Company, were US$5.2 million. The Company intends to use the net proceeds from the... More