Neo-Concept International Raises $8.1M with 14.85M Shares, Stock Jumps 13%
Neo-Concept International closed a public offering on Feb. 11 by issuing 14.85 million Class A shares at $0.5454 each, raising $8.1 million in gross proceeds. Shares surged over 13%, trading near $2.63—about 90% above the 20-day SMA—and approaching key resistance at $3 with bullish MACD strength and neutral RSI.
1. Public Offering Details
Neo-Concept International closed its public offering on Feb. 11, issuing 14.85 million Class A ordinary shares at $0.5454 each, generating approximately $8.1 million in gross proceeds before fees and expenses. D. Boral Capital LLC served as lead placement agent and uSmart Securities Limited as joint placement agent.
2. Stock Performance and Technicals
Shares jumped 13.76% on Feb. 13, trading around $2.63—about 89.6% above the 20-day simple moving average and 68.1% above the 100-day SMA. Technical indicators show a neutral RSI at 64.86 and a bullish MACD, with key resistance identified at $3.00.