U.S.-based medical technology company Soliton Inc. has completed with $10.4 million in the initial close of its initial public offering.
Soliton sold 2.1 million units of its common stock at $5 each unit.
With the net capital raised, Soliton will develop and commercialize its Rapid Acoustic Pulse device, conduct clinical trials for new indications, pay license fees and fund research and development as well as general working capital.
U.S. investment banking firm Boustead Securities, LLC was the sole underwriter of the listing.