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NFT Gaming Company (NASDAQ:NFTG) stock was trading largely flat following the gaming platform's $7M initial public offering on Wednesday.
Shares of NFT Gaming opened at $4.55, quickly reaching a high of $5.01 before slipping to a low of $4.05 in late morning. The stock recently changed hands at $4.15, its IPO price, at approximately 1:10 p.m. ET.
NFT Gaming offered 1.7M shares priced at $4.15 per share, raising $7M. Underwriters were granted a 45-day option to buy up to 253K additional shares at the IPO price. Laidlaw and Revere Securities are serving as lead bookrunners.
The company first filed for the IPO in October.
Based in New Jersey, NFT Gaming is building a digital gaming platform called Gaxos for its proprietary games and those created by third party developers and publishers. The platform will also allow players to buy and own in-game NFT assets such as characters, skins and gear.
For more on NFT Gaming, check out Donovan Jones's "The NFT Gaming Company Launches $7M Micro IPO."