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The IPO Buzz: Trident Digital (TDTH) & XCHG (XCH) Price Small IPOs At or Near Low End

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Bankers priced two small IPOs – Trident Digital Tech Holdings (TDTH) and XCHG Ltd. (XCH) – at or near the low end of their respective price ranges on Monday night, Sept. 9, 2024, to trade today – Tuesday, Sept. 10, 2024 – on the NASDAQ. Here are the pricing details: * Trident Digital Tech Holdings (TDTH) priced its IPO at $5.00 – the low end of its $5.00-to-$7.00 price range – on 1.8 million American Depositary Shares (ADS) – to raise $9.0 million. Each ADS represents eight Class B ordinary shares. WallachBeth Capital was the sole book-runner. Revere Securities was the co-manager. *XCHG Ltd. (XCH) priced its IPO at $6.20 – near the low end of its $6.00-to $8.00 price range – on 3.33 million ADS – to raise $20.7 million. Each ADS represents 40 shares. US Tiger Securities was the sole book-runner. Trident Digital Tech Holdings (TDTH) – a participant in Singapore’s SMEs Go Digital program –  provides digital solutions and services such as e-commerce platforms, digital marketing tools and data analytics software to small and medium enterprises (SMEs) in  Singapore . In 2022, Trident Digital Tech ranked fourth in this digital services market, according to the Frost & Sullivan Report, the prospectus said. Trident Digital Tech was founded in 2014 as a full-service IT (information technology) company headquartered in Singapore. Financial statements in the prospectus show that Trident Digital Tech was not profitable for the year that ended Dec. 31, 2023, when the company reported a net loss of $4.77 million on revenue of $1.48 million.  XCHG Ltd. (XCH), based in Beijing, offers comprehensive EV (electric vehicle) charging solutions which primarily include the DC fast chargers named the C6 series and the C7 series, the advanced battery-integrated DC fast chargers which we call Net Zero Series (“NZS”), as well as accompanying services, according to the prospectus. For the year that ended Dec. 31, 2023, XCHG reported a net loss of $8.08 million on revenue of $38.51 million. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions or anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.


Source: https://www.iposcoop.com/the-ipo-buzz-trident-digital-tdth-xchg-xch-price-small-ipos-at-or-near-low-end/



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