Boustead Securities Client ADOMANI First to IPO on NASDAQ Under the Jobs Act Regulation A+. Shares Up 92%.
June 19, 2017
Forbes Explores the First NASDAQ IPO Using Regulation A+, Boustead Securities Client Adomani
June 21, 2017
"The week ending June 16th, 2017 was an illustrious one for the Regulation A+ business as a whole and for companies monitoring Reg A+ to assess if they will use it for their own IPO. We are right at the two-year point since Reg A+ became effective for the first time, which makes the timing of these two IPOs a rather good pivot point for Regulation A+awareness.
Literally, in the space of one week we have experienced two milestone Reg A+ IPOs: the first IPO to list on the NASDAQ: (ADOM) and the first Reg A+ IPO to list on the NYSE: (MYO) .
Last week I wrote an article about the NYSE Reg A+ IPO which took place on Monday. Here I explore how the ADOM IPO to the NASDAQ worked and the lessons that we can learn from it - ADOM listed on Thursday, June 15th just three days after the NYSE IPO.
The Adomani offering was driven primarily by Boustead Securities as the lead underwriter, with Network 1Financial providing the retail and market-maker broker-dealer roles. The offering raised a total of $14.4 mill, with some proceeds going to selling insiders. The per investor minimum was $500. The offering was a Tier 2 Regulation A+."