NCRA - Taiwanese aquaculture developer Nocera uplists stock raises $7M in US IPO

Taiwanese aquaculture developer Nocera ( OTC:NCRA ) uplisted its shares to Nasdaq and held a $6.6M initial public offering on Thursday.

Shares of Nocera opened at $2.26, hitting a low of $2.07 in early trading before climbing to a high of $3 in late morning. The stock recently changed hands at $2.60 at approximately 1:35 p.m. ET.

Nocera also conducted a 2-for-3 reverse stock split ahead of the uplisting. The stock closed at $5.18 on Wednesday, the last session before the split took effect. Prior to Thursday, the stock was traded OTC.

The sustainable seafood company, which has developed a land-based aquaculture system, offered 1.9M units at $3.50 per unit, raising $6.6M. Each unit consisted of one share plus two warrants to buy two shares at $3.85 per share. Underwriters were granted a 45-day option to buy up to 282K additional units.

For more IPO news, check out SA’s IPO News page.

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