U-BX Technology recently raised $10 million by selling 2 million shares at $5 per share. The company, which offers various services to insurance companies in China, is planning to list on the Nasdaq under the symbol UBXG with EF Hutton as the sole bookrunner.
U-BX Technology’s proprietary algorithmic model allows it to generate individualized risk reports based on factors such as vehicle brand, model, travel area, and vehicle age. The company serves over 300 city-level property and auto insurance carriers nationwide, as well as around 200,000 insurance brokers who use its products and services for their daily business operations.
The successful fundraising and planned listing are indicative of the solid business model of U-BX Technology and its potential for growth in the insurance industry. Through its digital promotion services, risk assessment services, and value-added bundled benefits, the company is well positioned to continue serving its growing customer base in China.
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