Pathogen elimination technology company AeroClean Technologies, Inc. (Nasdaq: AERC) started publicly trading on the Nasdaq Capital Market today. The firm’s initial public offering is looking to raise US$25 million.
The offering will be conducted through the issuance of 2.5 million common shares selling at US$10.00 per share.
The Benchmark Company, HCFP/Capital Markets, and Valuable Capital Limited are all acting as joint bookrunners for the said offering.
The firm relayed that net proceeds from the offering are expected to be used on supporting the build-out of its organization, funding its air purification devices production, establishing a consumables and services business, and supporting its product development efforts.
The company manufactures air sanitation products and provides anti-pathogen solutions. Its flagship product Pūrgo is developed with a proprietary technology designed by aerospace engineers and medical scientists.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.