Investing.com -- Pinnacle Food Group Limited began trading its shares today on the Nasdaq Capital Market under the ticker symbol "PFAI" for $4.00 per share. The company, which sells smart hydroponic growing systems and provides technical support services to individual households, community groups, and urban farms, had priced its initial public offering (IPO) at the same amount.

Yesterday, Pinnacle Food Group announced the firm commitment to its IPO of 1,800,000 Class A common shares. Each share has a par value of US$0.00005. The company has set the public offering price at $4.00 per share.

From this offering, PFAI anticipates gross proceeds of $7.2 million. This figure is before the deduction of underwriting discounts and other related expenses.

Moreover, Pinnacle Food Group has given the underwriters a 45-day option. This allows them to purchase up to an additional 270,000 Class A common shares. The purchase would be at the initial public offering price, but with underwriting discounts subtracted.

Craft Capital Management LLC is the representative of the underwriters for this particular offering.

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