3Knights Dynamics Group Limited filed paperwork for an initial public offering on Tuesday, indicating its intent to raise between $20 million and $25 million through the sale of 5 million Class A ordinary shares.
The filing sets an estimated initial public offering price range of $4 to $5 per Class A share, each carrying a par value of $0.0001. The company states there is currently no public market for these shares.
3Knights Dynamics has applied to list its Class A ordinary shares on the NASDAQ Capital Market under the reserved ticker - TKDG. The company made clear that the NASDAQ has not yet approved the listing application and that completion of the offering is contingent on the exchange's final approval.
Network Financial Securities is identified in the filing as the underwriter for the offering. The registration emphasizes that there is no assurance the shares will obtain NASDAQ listing approval.
Before this filing, 3Knights Dynamics did not have any publicly traded shares. The company also maintains Class B ordinary shares, but those shares are excluded from the current offering.
Context and market implications
The registration filing outlines the mechanics of the proposed offering without adding further operational or financial detail. As presented in the paperwork, the transaction would introduce a new class of publicly offered equity into the market if and when the NASDAQ grants final approval.
Summary
- The company seeks $20 million to $25 million from the sale of 5 million Class A ordinary shares.
- Estimated IPO price range is $4 to $5 per share; par value is $0.0001 per Class A share.
- Application submitted to list on NASDAQ Capital Market under the reserved symbol TKDG; listing remains subject to NASDAQ approval.
Key considerations
- There is no existing public market for the company's shares, which may affect liquidity for potential investors.
- The offering depends on NASDAQ's final approval, and the filing explicitly states there is no guarantee such approval will be granted.
- Class B ordinary shares are not included in this proposed public offering.