Coolbit Technologies Limited has filed paperwork for an initial public offering, seeking to list Class A ordinary shares on the Nasdaq Capital Market under the ticker symbol CBAI. The Cayman Islands-registered company intends to offer 3.75 million Class A shares, while a selling shareholder is slated to place an additional 1.25 million shares as part of the same offering.
The company’s filing sets an indicative price range of $4.00 to $5.00 per share. Proceeds from the 3.75 million shares offered directly by Coolbit would accrue to the company, whereas any proceeds from the 1.25 million shares sold by the selling shareholder will not be received by Coolbit.
To provide flexibility for allocation and to address potential over-allotments, Coolbit has granted the underwriters an option to purchase up to 562,500 additional shares. That option may be exercised within a 45-day window following the offering.
The Class A ordinary shares would carry a par value of $0.0000025 per share. According to the prospectus filing, there is currently no public market for the company’s shares.
Crucially, the offering is contingent on the company securing a listing on the Nasdaq Capital Market or another national securities exchange. The filing expressly notes that there is no guarantee the company will obtain such a listing.
The registration and offering information is drawn from the company’s prospectus filing. Eddid Securities USA is named in the filing as the sole underwriter for the proposed offering.
Context and next steps
The filing establishes the structure and basic terms of the proposed IPO but makes plain that the offering cannot proceed unless a qualifying listing is finalized. The inclusion of a selling shareholder offering and an underwriter over-allotment option are standard deal mechanics reflected in the prospectus.
Investors and market participants will need to await confirmation of a listing approval and the final offering price before a public market for the shares can develop.