ARMLOGI HOLDING CORP. ANNOUNCES PRICING OF $8 MILLION INITIAL PUBLIC OFFERING
Armlogi Holding Corp (Nasdaq: BTOC) has announced the pricing of its initial public offering (IPO) at $5.00 per share, aiming to raise $8 million in gross proceeds. The offering includes 1,600,000 shares of common stock with an additional 45-day option for underwriters to purchase up to 240,000 more shares for over-allotments. The shares will begin trading on the Nasdaq Global Market on May 14, 2024, under the ticker symbol 'BTOC' and the offering is expected to close by May 15, 2024. EF Hutton is the sole book-running manager for this offering.
- Raised $8 million in gross proceeds from the IPO.
- Shares to be traded on the Nasdaq Global Market, increasing visibility and potential investor interest.
- Underwriters have a 45-day option to purchase an additional 240,000 shares, indicating confidence in demand.
- Potential to leverage IPO funds for business growth and expansion.
- IPO pricing at $5.00 per share may reflect a conservative valuation.
- Gross proceeds of $8 million are before underwriting discounts and offering expenses, reducing net proceeds.
- Market conditions at the time of trading could impact initial stock performance.
Insights
Armlogi Holding Corp.'s announcement of its IPO pricing can be seen as a strategic move to raise capital and support its operations in the warehousing and logistics sector. Pricing the IPO at
One key observation for retail investors is the company's plan to trade on the Nasdaq Global Market under the ticker symbol “BTOC”. Listing on a major exchange like Nasdaq often improves liquidity and increases investor confidence. However, it's essential to consider the company's current financial health, growth prospects and competitive landscape in the logistics industry before making investment decisions. The logistics sector is highly competitive, with major players investing heavily in technology and innovation. Erratic market conditions and economic factors could impact the stock performance post-IPO.
Investors should be aware of the underwriters' option to purchase up to an additional 240,000 shares. This over-allotment option could potentially lead to dilution of shares but also indicates a buffer to meet high demand.
The logistics industry, where Armlogi operates, is undergoing significant transformation driven by e-commerce growth and advancements in supply chain technologies. This IPO is not just a financial event but a signal of Armlogi's intention to scale and compete in a rapidly evolving market. Retail investors should note that the company's ability to leverage the raised funds effectively will be important in capturing market share.
For context, logistics companies are increasingly using automation, robotics and data analytics to improve efficiency. Armlogi's future investments in these areas could determine its competitive edge. Furthermore, examining the company's strategic partnerships, customer base and geographic reach would provide deeper insights into its market positioning and potential growth trajectory.
The IPO timing suggests that Armlogi is capitalizing on favorable market conditions. However, investors should also consider macroeconomic factors like inflation, interest rates and global trade dynamics, which can affect the logistics sector's stability and growth.
WALNUT, CA, May 13, 2024 (GLOBE NEWSWIRE) -- Armlogi Holding Corp. (“Armlogi” or the “Company”) (Nasdaq: BTOC), a U.S.-based warehousing and logistics service provider that offers a comprehensive package of supply-chain solutions related to warehouse management and order fulfillment, today announced the pricing of its initial public offering (the “Offering”) of 1,600,000 shares of common stock at a public offering price of
The Company has granted a 45-day option to the underwriters to purchase up to 240,000 additional shares of common stock solely to cover over-allotments, if any.
The shares are scheduled to begin trading on the Nasdaq Global Market on May 14, 2024, under the ticker symbol “BTOC.” The offering is expected to close on or about May 15, 2024, subject to customary closing conditions.
EF Hutton LLC is acting as the sole book-running manager for the Offering.
Hunter Taubman Fischer & Li LLC is acting as U.S. counsel to Armlogi, and VCL Law LLP is acting as U.S. counsel to EF Hutton LLC in connection with the Offering.
A registration statement on Form S-1, as amended (File No. 333-274667), was filed with the United States Securities and Exchange Commission (the “SEC”) and was declared effective on May 13, 2024. A copy of the final prospectus related to the Offering, when available, will be filed with the SEC and may be obtained from EF Hutton LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@efhutton.com or telephone at (212) 404-7002. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Armlogi Holding Corp.
Armlogi Holding Corp., based in Walnut, CA, is a fast-growing U.S.-based warehousing and logistics service provider that offers a comprehensive package of supply-chain solutions relating to warehouse management and order fulfillment. The Company caters to cross-border e-commerce merchants looking to establish overseas warehouses in the U.S. market. With ten warehouses covering approximately 1,800,000 square feet, the Company offers comprehensive one-stop warehousing and logistics services. The Company’s warehouses are equipped with facilities and technology for handling and storing large and bulky items. For more information, please visit www.armlogi.com.
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
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