U-BX Technology (NASDAQ: UBXG), an artificial intelligence-driven, value-added services and products provider to insurance carriers, has closed on its initial public offering. The offering, which closed on April 1, 2024, comprised 2 million ordinary shares at an initial public offering price of $5 per share, resulting in gross proceeds of $10 million before standard deductions and offering expenses. In addition, the company granted the underwriter an option to purchase up to an additional 300,000 shares at the public offering price to cover any overallotments. U-BX Technology anticipates using the funds from the offering for research and development, advertising and marketing, and general working capital. EF Hutton acted as sole bookrunner for the offering.
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About U-BX Technology Ltd.
UB-X Technology is a provider of insurance technology headquartered in Beijing, China. The company focuses on providing value-added services using artificial intelligence-driven technology to businesses within the insurance industry. The company’s services and products primarily include digital promotion services, risk assessment services and value-added bundled benefits to insurance carriers. For more information, visit the company’s website at www.U-BX.com.
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