Cash Capital has celebrated an exit as UCloudlink raised $36.2m in its offering, after pricing its shares at the bottom of the range and issuing less stock than originally planned.
UCloudlink, a China-based data traffic sharing marketplace backed by Chinese Academy of Sciences, today priced its shares at $18 to raise nearly $36.2m in its initial public offering on the Nasdaq Global Market.
The company issued just over 2 million American Depositary Shares (ADSs), representing 20.1 million ordinary shares, having originally aimed to issue 2.6 million ADSs. The $18 price tag represented the bottom of the $18 to $20.50 range.
Founded in 2014, UCloudlink operates a cloud-based platform…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
