Ostin Technology Group Co Ltd, a display modules and polarizers provider in China, has filed Form F-1 Registration Statement on March 5, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $14 million by offering 3.4 million shares at a price range of $3.50 to $4.50. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $56 million.
The company currently operates three manufacturing facilities in China with an aggregate of 45,000 square meters - two are located in Jiangsu Province for the manufacture of display modules and one in Chengdu, Sichuan Province for the manufacture of TFT-LCD polarizers.
The Nanjing, China-based company was founded in 2010 and booked $140 million in sales for the 12 months ended September 30, 2020. It plans to list on the Nasdaq Capital Market under the symbol “OST.” Prime Number Capital and Shengang Securities are underwriters of the IPO.
The company engages Ellenoff Grossman & Schole LLP as US Securities Counsel, and TPS Thayer, LLC as Independent Auditor.
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