MMTEC, which operates an online securities trading platform in China, raised $7 million by offering 1.8 million shares at $4, the low end of the range of $4.00 to $4.50. At $4, MMTEC commands a fully diluted market value of $79 million. The company filed its offering registration with the SEC that was declared effective on December 26, 2018; it did not begin trading until January 8, 2019.
MMTEC plans to list on the Nasdaq under the symbol MTC. WestPark Capital acted as a lead manager on the deal.
