LZ Technology Holdings, which provides advertising services via a network of monitors across China, raised $7 million by offering 1.8 million shares at $4, the low end of the range of $4 to $6.
LZ Technology is an information technology and advertising company with operations across three business verticals: Out-of-Home Advertising, Local Life, and Smart Community. Through out-of-home advertising, the company places advertisements on monitors and within its SaaS software, capitalizing on its network of monitors across approximately 120 cities in China. The company also partners with other outdoor advertising providers to maximize coverage. Through its local life offering, LZ Technology connects local businesses with consumers via online promotions and transactions, and through its smart community offering, it provides intelligent community building access and safety management systems.
LZ Technology Holdings plans to list on the Nasdaq under the symbol LZMH. Benjamin Securities and D. Boral Capital acted as joint bookrunners on the deal.