iTonic Holdings (ITOC) Surges Over 84% After Hours— Here's Why It's Trending

iTonic Holdings Ltd (NASDAQ: ITOC) experienced an 84.18% surge in after-hours trading, reaching $0.52, following the announcement of a $20 million private placement offering. The company plans to issue 100 million Class A ordinary shares at $0.20 per share, with the offering expected to close in April. Prior to this announcement, ITOC closed the regular session down 2.86% at $0.28, and has a market capitalization of $4.92 million.