Blank Rome Represents Forza X1, Inc. in Its $15M Initial Public Offering
A Blank Rome team represented Forza X1, Inc. (Nasdaq:FRZA), a developer of electric sport boats with a mission to inspire the adoption of sustainable recreational boating, in connection with its $15 million initial public offering (“IPO”) of common stock. The shares of common stock began trading on the Nasdaq Capital Market under the ticker symbol "FRZA" on August 12, 2022. The offering closed on August 16, 2022.
The net proceeds from the IPO will be used for 1) the acquisition of property and the development of a manufacturing plant, infrastructure, and equipment to build, design, and manufacture Forza's new line of electric boats; 2) ramp-up of production and inventory; and 3) working capital.
For more information about this offering, please read Forza X1, Inc. Announces Pricing of Initial Public Offering (August 11, 2022) and Forza X1, Inc. Announces Closing of Initial Public Offering and Exercise of Over-Allotment Option (August 16, 2022).