Editor’s note: This article was updated on Sept. 17 to correct a misspelling of EzFill Holdings.
The company’s announced initial public offering (IPO) price of $4 per share has been gobbled up by early investors, with this stock opening more than 10% higher, trading between a range of $4.10 and $4.90 on the day. Currently, EZFL stock remains around the day’s average and appears to be holding steady above the $4.40 level.
This micro-cap stock has been an intriguing stock for investors interest in supply chain plays of late. As an on-demand fuel-delivery company, EzFill allows for commercial and non-commercial customers to fill up on the go. Via an app, customers can select the time and place, and EzFill will show up at the location to fill up a customer’s fleet.
Let’s dive into a few things investors may want to know about this new stock.
What to Know About EZFL Stock
- EzFill currently operates its on-demand fuel delivery service in Florida.
- Currently, the company operates a fleet of 13 delivery trucks.
- As a result of this issuance, EzFill has raised approximately $25 million.
- About 6.3 million shares were issued at the $4 price level.
- Accordingly, EzFill hopes to use this capital to expand its fleet of trucks and potentially pursue new markets.
- An over-allotment option of 937,500 shares was offered.
- This financing should close on Sept. 17.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.