CTRL Group prices 2M shares at $4.00 in initial public offering

CTRL Group (MCTR) announced the pricing of its initial public offering of an aggregate of 2,000,000 ordinary shares at a price of $4.00 per share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on January 22, 2025, under the symbol “MCTR.” The Company expects to receive aggregate gross proceeds of $8M from the Offering, before deducting underwriting discounts and other related expenses. The Offering is expected to close on or about January 23, 2025, subject to the satisfaction of customary closing conditions. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares at the public offering price, less underwriting discounts. Proceeds from the Offering will be primarily for the following: expanding to other regions, working capital as mobile game operator, acquisition of potential media companies and general working capital. The Offering is conducted on a firm commitment basis. R.F. Lafferty & Co. is acting as the representative of the underwriters, with Revere Securities acting as co-underwriter for the Offering. The Crone Law Group, P.C. acted as U.S. legal counsel to the Company and VCL Law acted as legal counsel to the Underwriters for the Offering.