On January 13th, 2023, MGO Global, Inc., a brand management company that handles retail products, licensing, marketing and brand management for lifestyle brands, has announced the intention to file for its IPO. The pricing of its initial public offering of 1,500,000 shares of its common stock at a price to the public of $5.00 per share for a total of $7,500,000 of gross proceeds to MGO Global, before expenses and associated underwriting costs.
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What Is An IPO And How Do IPOs Work?
An IPO is a process of offering shares of a private corporation to the public in a new stock issuance. Why go public? The primary benefit of going public is easier access to capital.
To go public, a company must have a track record of growth and other favorable results and hire an investment bank (Boustead Securities, LLC and Sutter Securities, Inc. are acting as the underwriters for this Offering) to come in and underwrite the IPO. The underwriters also perform due diligence and verified financial information and business model.
Once the paperwork done, the company sells the stock to institutional investors. When the initial block of shares has been sold, the company sets an initial price and date for the stock to begin trading on a stock exchange.
Company Profile and Financial Indicators To Know
Before MGO Global, Inc. Goes Public
With Its Share In Their IPO
Financial Indicators before MGO IPO
Summary
The business world woke up to exciting news today as MGO Global Inc. (NASDAQ: MGOL), the renowned operator of The Messi Store, put forth an auspicious development – the initiation of its first ever initial public offering (IPO). This momentous event earmarks a significant milestone in the corporate timeline of MGO Global, paving the way for robust economic prospects for both the company and its shareholders.
Full Story
MGO Global has put forth 1,500,000 shares of its common stock in the public domain.
Each of these shares carries a price tag of $5.00, translating into a mammoth $7,500,000 of gross proceeds flowing into the company’s coffers. This bold initiative is poised to provide a substantial financial upswing, further propelling MGO Global’s innovative and strategic agenda. These figures are, however, stated prior to necessary deductions such as underwriting discounts, commissions, and other ancillary expenses associated with the offering.
In a show of comprehensive foresight, MGO Global has also awarded the underwriters an exclusive 45-day window to purchase up to 225,000 additional shares of its common stock at the same offering price. This prudent provision, allowing for coverage of over-allotments if any, is a testament to the company’s shrewd financial acumen.
In yet another laudable development, MGO Global’s shares are anticipated to make their trading debut on the acclaimed Nasdaq Capital Market today, January 13, 2023, under the ticker symbol “MGOL.” The successful closure of this offering, which is expected by January 18, 2023, is, however, contingent on customary closing conditions being met.
The significance of this listing on such a prestigious platform lies in the increased visibility and the consequent credibility it offers to MGO Global. It is a testament to the company’s robust financial health and growth potential, positioning it well within the eyes of prospective investors and stakeholders.
Initial Price Per Share: Common stock at a price to the public of $5.00 per share
Initial public offering of 1,500,000 shares of its common stock at a price to the public of $5.00 per share for a total of $7,500,000 of gross proceeds
Gross Proceeds: Total of $7,500,000 of gross proceeds
Detailed Instructions On Getting In the MGO Global, Inc. IPO Before Public Trading Starts
Use the information below to find out all about the future The MGO Global, Inc. IPO using Freedom Finance (Freedom24 platform).
For this company, the platform used in the example was picked simple as an example since MGO Global, Inc. is currently present on the platform.
U.S. Residents Take Notice: Some platforms, including the services from Freedom Finance platform, are NOT available to the residents and citizens living in the United States. U.S. Citizens should seek another trading platform.
To Begin The Process, Simply Apply For An Account On The Freedom Finance Platform — Before you start the process, be sure to gather your identification information. You’ll be asked to verify and confirm your identity in order for your account to be officially accepted. Also, documentation of your primary residence will be required. In many cases, a monthly bill like a utility bill is all that is required. With all of these documents verified and confirm, then the process of the Freedom Finance verification procedures are simple, fast, and convenient. Barring any unexpected issues, they should only take between two to four minutes to create your official account.
Place An Initial Monetary Deposit Into Your Newly Created Account — In order for you to successfully purchase shares during the IPO process, the funds available in the account must be enough to purchase the number of shares you are requesting with the IPO application.
Tip: For ease and convenience, you may consider funding your account as early as possible and deposit funds into the account well in advance of the IPO. For many IPOs, the exact date is not announced until the day that trading is open. This last minute notice could create a time crunch and might limit your ability to be involved in the IPO. Sometimes, platforms like the Freedom platform will notify their users of offers for IPOs in the final few hours, when there is only a few hours remaining to get in and request shares.
Use the Platform Tools To Submit Your Request For Shares — When the application process starts, you select the stock you want, in this case MGO Global, Inc. and then follow the instructions given to you from the platform. You will be asked to provide details for your investment and then asked to finally send you request as part of the application process.
Please take Note: In some cases the IPO request can be withdrawn before the book closing. However, when the process of book closing starts, usually twenty-four hours before the exchange trading starts, the specified amount will be blocked in the account.
Stand By For Your Account To Reflect The Shares — During the IPO process, the final total number of shares purchased will be 100% wholly dependent on factors around the total supply and total demand surrounding the shares. If the demand for the stock is very high, you may get fewer shares than you requested because the underwriters often reserve the right to execute partial orders on collective applications. Be assured, you will only pay for the number of shares fulfilled on your request. The remainder of your funds are returned to the account on the platform.
Beginning of public trading — When public trading starts on the stock exchange, the purchased shares will appear on the account and the lock-up period will start. There’s a 93-day period of prohibition of selling stocks, during which you can’t sell the shares you own. However, you may track their value and growth in your personal member area and a trading terminal.
Continuing Your Trade — At the end of the ninety three day period for lock-up, you will be able to manage your stocks as you normally would. You have the option to leave them in your portfolio or sell and withdraw money or transfer the stocks to another depository/ broker in your name. This can be done by using the instructions through the platform. Please be sure to check the commission rate of the platform. For this platform the commission is 0.5% charged of total sale transaction.
Participate in MGO Global IPO – Link? Yes, it’s a link. It was a big ass button in the other site.
Frequently Asked Questions (FAQs) About Investing In Initial Public Offerings
Is investing in IPOs profitable?
Not always. The average return at the end of the lock-up period is 72%, based on a historical analysis of past IPO data.
When is the MGO Global, Inc. IPO date?
MGO Global, Inc. IPO date is January 13, 2023.
What is MGO Global, Inc. IPO price range?
MGO Global, Inc. price is $5.00 per share.
How Do I Invest in MGO Global, Inc. after the opening date?
After the IPO you can buy MGO Global, Inc. stocks via Freedom24 or eToro on the first trading day.
In what currency will the MGO Global, Inc. IPO and post-IPO shares be traded?
The MGO Global, Inc. IPO and stock trading currency will be USD.
If you have funds in another currency the cheapest way to convert your currency is to use the mid-market rate (that’s the one you’ll find on Google) which can be done via a fintech service like Wise.
Banks may add hidden markups to their exchange rates – charging you more without your knowledge. And if they have a fee, they charge you twice. Wise never hides fees in the exchange rate.
What is the MGO Global, Inc. stock symbol?
The stock ticker for MGO Global, Inc. will be MGOL.
Additional Financial Information On The MGO Initial Public Offering