- Vantage Corp (VNTG, Financial) raised an additional $1.95 million through full exercise of the over-allotment option in its IPO.
- The total IPO now comprises 3,737,500 shares, with gross proceeds reaching $14.95 million before deductions.
- VNTG began trading on NYSE American on June 12, 2025, enhancing its visibility and access to capital markets.
Vantage Corp (VNTG), a shipbroking company with expertise in tanker market services, has announced the successful full exercise of the underwriters' over-allotment option related to its initial public offering (IPO). This development led to the purchase of an additional 487,500 Class A Ordinary Shares at a price of $4.00 per share, bringing in extra gross proceeds of $1.95 million.
The completion of this over-allotment option has expanded Vantage's total IPO to 3,737,500 shares, generating total gross proceeds of $14.95 million before accounting for underwriting discounts and other associated offering expenses. The company officially commenced trading its shares on the NYSE American on June 12, 2025, under the ticker symbol “VNTG”.
Network 1 Financial Securities, Inc. acted as the sole managing underwriter and bookrunner for this offering, guiding the process with legal counsel from Loeb & Loeb LLP for Vantage and Hunter Taubman Fischer & Li LLC for the underwriter. The funds raised through this IPO will potentially be allocated towards expanding Vantage's market presence, enhancing technology infrastructure, or pursuing strategic acquisitions.
