Adomani’s (NASDAQ:ADOM) quiet period is set to expire on Tuesday, July 25th. Adomani had issued 2,852,275 shares in its IPO on June 15th. The total size of the offering was $14,261,375 based on an initial share price of $5.00. During Adomani’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
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Shares of Adomani (ADOM) traded up 7.17% during trading on Wednesday, hitting $12.86. 124,909 shares of the company’s stock were exchanged. The company’s market cap is $875.38 million. The company has a 50-day moving average of $11.76 and a 200-day moving average of $11.73. Adomani has a 12-month low of $6.11 and a 12-month high of $18.31.
Adomani, Inc is engaged in designing, manufacturing and installing electric and hybrid drivetrain systems for use in new school buses and medium to heavy-duty commercial fleet vehicles. The Company also designs, manufactures and installs conversion kits to replace conventional drivetrain systems for diesel and gasoline powered vehicles, electric or hybrid drivetrain systems.
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