As per the news release by Expion360 Inc. (XPON), the company went public and got listed on NASDAQ Capital Market. As a result of which XPON stock surged in the pre-market. The XPON stock is currently trading at $8.50 and gained around 7% compared to the previous session close. The XPON stock closed at $7.93 at the end of the last trading session. The stock volume traded in the previous trading session was around 10.58 million shares. The current market cap of the company is yet to be disclosed.
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Expion360 Inc. (XPON) announced in a press release on April 1, 2022, that they are going public today on NASDAQ Capital Market. They are offering their common stock for $7.00 per share. According to the press release, XPON will offer 2.145 million shares of common stock at a price mentioned above.
According to the news, the company has granted the underwriters a period of 45-days option to purchase additional 321,750 common stock shares at the company’s Initial Public Offering price.
On April 1, 2022, the company was approved by NASDAQ Capital Market to list its securities and will trade under the ticker symbol “XPON”. It is decided that the offering shall last till only April 5, 2022.
The sole boo-running manager for the whole process is Alexander Capital, LP. The company’s co-manager of the offer is decided to be Paulson Investment Company, LLC.
XPON: Key Financials
- Fiscal 2021 revenue was $4.52 million, gaining more than 187% from the 2020 revenue.
- Net loss increased significantly by 438% to reach $4.72 million.
- Its profit margin was -104.5%.
- As of fiscal 2021, the company had cash and cash equivalents of $773.24K.
The company is growth-focused and currently growing at a skyrocketing growth rate of 187%. XPON has gone public and is trading on NASDAQ Capital Market. The company is presently focused on its growth, and companies when concentrating on growth; companies mainly target increasing their market share.