Mumbai, India, June 17, 2022 (GLOBE NEWSWIRE) — Lytus Technologies Holdings PTV. Ltd. (NASDAQ: LYT) (the “Company”), a platform technology services company with nearly 8 million users and with operations in the USA and India, today announced the closing of its initial public offering of 2,609,474 common shares at a public offering price of $4.75 per share, for gross proceeds of $12,395,000, before deducting underwriting discounts, commissions and offering expenses. In addition, the Company granted the underwriters a 45-day option to purchase up to an additional 391,421 common shares at the initial public offering price, less the underwriters’ discount, which option was exercised in full following the closing of the Company’s initial public offering, and is expected to close on June 22, 2022.
Spartan Capital Securities, LLC and Pacific Century Securities, LLC are acting as joint book-runners for the offering.
The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes, including acquiring additional assets and developing its telemedicine service.
The common shares described above were offered by the Company by means of a prospectus forming part of and pursuant to a registration statement on Form F-1 (File No. 333-254943) previously filed with, and subsequently declared effective on June 14, 2022 by, the Securities and Exchange Commission (the “SEC”). Copies of the final prospectus relating to…
