X3 Holdings Co., Ltd.

X3 Holdings Co., Ltd. (PBTS) priced its initial public offering on Apr 2, 2019 at $5.00 per share, raising $8.8M. At the IPO price its market capitalization was about $43.3M. Benchmark was lead-left underwriter, joined by Maxim Group. Hunter Taubman Fischer & Li, Conyers Dill & Pearman and Zhong Lun advised the company and Ellenoff Grossman & Schole advised the underwriters.

At its 2019 IPO, Powerbridge Technologies (now X3 Holdings) was a Cayman Islands company providing software applications and technology solutions to corporate and government customers in China, mainly in global trade, a business that began in 1997.

Status

IPO

Ticker

PBTS

Priced

Apr 2, 2019

IPO price

$5.00

Raised

$8.8M

Market cap at IPO price

$43.3M

First filed

Jan 4, 2019

Underwriters

Benchmark and Maxim Group

Company counsel

Hunter Taubman Fischer & Li, Conyers Dill & Pearman and Zhong Lun

Underwriters' counsel

Ellenoff Grossman & Schole

Sector

Technology

Country / state

Singapore

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