Chinese software company Powerbridge to offer 2.2 million shares in IPO priced at $4.50 to $5.50 a pop
Chinese trade software company Powerbridge Technologies set terms for its planned initial public offering on Tuesday, saying in a regulatory filing that it plans to offer 2.2 million shares priced at $4.50 to $5.50 each. The company would raise $4.84 million at the midpoint of that range. The company has applied to list on Nasdaq under the ticker symbol "PBTS". Maxim Group and The Benchmark Co. are joint underwriters on the deal. Proceeds will be used to fund research and development, for sales and marketing, for strategic alliances and acquisitions and for working capital and general corporate purposes. "We are a provider of software application and technology solutions and services to corporate and government customers primarily located in China," the company says in its prospectus. "We introduced global trade software applications when we launched our operations in 1997 with a vision to make global trade operations easier for our customers." T
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