Rectitude Holdings, Ltd.’s (NASDAQ:RECT) Quiet Period To Expire Tomorrow

Rectitude’s (NASDAQ:RECT) quiet period will expire on Wednesday, July 31st. Rectitude had issued 2,000,000 shares in its IPO on June 21st. The total size of the offering was $8,000,000 based on an initial share price of $4.00. During the company’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Rectitude Stock Performance

RECT stock opened at $3.28 on Tuesday. Rectitude has a 52-week low of $3.01 and a 52-week high of $4.25.

About Rectitude

Rectitude Holdings Ltd is principally involved in the provision of safety equipment, encompassing essential items such as personal protective clothing, gloves, safety footwear, personal fall arrest systems, portable fire extinguishers and traffic products. The Company also offers auxiliary products such as industrial hardware tools and electrical hardware required for construction sites.