uCloudlink, a mobile data traffic sharing marketplace in China, raised $36 million by offering 2 million ADSs at $18, the low end of the range of $18.00 to $20.50. The company offered 0.6 million fewer ADSs than anticipated. At pricing, the company commands a fully diluted market cap of $532 million.
uCloudlink plans to list on the Nasdaq under the symbol UCL. I-Bankers Securities, Valuable Capital, Tiger Brokers, and Loop Capital Markets acted as lead managers on the deal.
