Coolbit Technologies files for 3.75M share IPO at $4-$5

Coolbit Technologies Limited filed for an initial public offering on Friday, seeking to raise capital through the sale of Class A ordinary shares on the Nasdaq Capital Market under the ticker symbol "CBAI."

The Cayman Islands-based company plans to offer 3.75 million Class A ordinary shares, while a selling shareholder will offer an additional 1.25 million shares. The anticipated price range for the shares is between $4.00 and $5.00 per share.

Coolbit will not receive proceeds from the shares sold by the selling shareholder. The company has granted underwriters an option to purchase up to 562,500 additional shares within 45 days to cover over-allotments.

The Class A ordinary shares carry a par value of $0.0000025 per share. No public market currently exists for the company's shares.

The offering remains contingent upon successful listing on the Nasdaq Capital Market or another national securities exchange. The company stated there is no assurance it will achieve listing on these exchanges.

The information is based on the company's prospectus filing.

Eddid Securities USA will serve as sole underwriter.

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