GMEX Robotics Corp

GMEX Robotics Corp (FTEL) priced its initial public offering on Aug 9, 2023 at $5.00 per share, raising $15M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $55.6M. Ogier and Baker McKenzie advised the company and Winston & Strawn advised the underwriters.

At its 2023 IPO, Fitell Corporation (now GMEX Robotics Corp) was an online retailer of gym and fitness equipment under its Gym Direct proprietary brands and other brands. It also planned smart fitness equipment, an AI-powered training platform and boutique fitness club licensing.

Status

IPO

Ticker

FTEL

Exchange

Nasdaq Capital Market

Priced

Aug 9, 2023

IPO price

$5.00

Raised

$15M

Market cap at IPO price

$55.6M

First filed

Oct 7, 2022

Company counsel

Ogier and Baker McKenzie

Underwriters' counsel

Winston & Strawn

Sector

Consumer

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.