Wonder Auto Technology Inc. (WATG) announced the closing of a follow-on offering of 6.0 million shares of common stock at a public offering price of $10.75 per share. The company received aggregate net proceeds of approximately US$59.2 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the company, not including the overallotment option.
In connection with the offering, the company has granted the underwriters a 30-day option to purchase up to an additional 900 thousand shares of common stock.
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