Business
HAOXIN HOLDINGS LIMITED Announces Pricing of Initial Public Offering
Ningbo, China, April 14, 2025 (GLOBE NEWSWIRE) -- Haoxin Holdings Limited (“Haoxin” or the "Company") (NasdaqCM: HXHX), a provider of temperature-controlled truckload services and urban delivery services in China, today announced the pricing of its initial public offering (the "Offering") of 1,750,000 Class A ordinary shares, $0.0001 par value per share, at a public offering price of $4.00 per ordinary share, for total gross proceeds of $7 million, before deducting underwriting discounts and com
About this update from Haoxin Holdings Limited
[{"type":"text","content":"Ningbo, China, April 14, 2025 (GLOBE NEWSWIRE) -- Haoxin Holdings Limited (“Haoxin” or the "Company") (NasdaqCM: HXHX), a provider of temperature-controlled truckload services and urban delivery services in China, today announced the pricing of its initial public offering (the "Offering") of 1,750,000 Class A ordinary shares, $0.0001 par value per share, at a public offering price of $4.00 per ordinary share, for total gross proceeds of $7 million, before deducting underwriting discounts and commissions and offering expenses. The Offering is being conducted on a firm commitment basis. The Class A ordinary shares are expected to commence trading on Nasdaq Capital Market under the ticker symbol “HXHX” on April 15, 2025.","length":747,"tagName":"p"},{"type":"text","content":"The Company has granted the underwriters an option, exercisable within 45 days from the date of the underwriting agreement, to purchase up to an additional 262,500 Class A ordinary shares at the public offering price, less underwriting discounts and commissions. The Offering is expected to close on April 16, 2025, subject to customary closing conditions.","length":356,"tagName":"p"},{"type":"text","content":"The Company intends to use the proceeds from the Offering for: i) the purchase of new vehicles; ii) acquisitions and business alliances; iii) an IT systems upgrade; and iv) general working capital.","length":197,"tagName":"p"},{"type":"text","content":"Craft Capital Management LLC and WestPark Capital, Inc. are acting as the representatives of the underwriters for the Offering. Ortoli Rosenstadt LLP is acting as counsel to the Company. Haneberg Hurlbert PLC is acting as counsel to the underwriters with respect to the Offering.","length":279,"tagName":"p"},{"type":"text","content":"A registration statement on Form F-1, as amended (File No. 333-269681), relating to the Offering was previously filed with the Securities and Exchange Commission (“SEC”) by the Company, and subsequently declared effective by the Securities and Exchange Commission (the “SEC”) on March 31, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Electronic copies of the final pro...