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Healthy Choice Wellness Corp. (NYSE-AM: HCWC) reported record-breaking revenue of an estimated $50 million for the nine-month period ending September 30th, a $10 million increase from the same period last year. The company also projects a record-breaking gross margin of $21 million, representing a 30% increase over the previous year.
CEO Jeffrey Holman attributed the growth to the team's hard work, dedication, and focus on delivering value and service to customers. The robust performance was driven by successful market expansion, penetration of new geographic regions through strategic acquisitions, and improved operational efficiencies. HCWC remains optimistic about its future prospects and is committed to expanding its footprint and delivering long-term shareholder value.
Healthy Choice Wellness Corp. (NYSEAM: HCWC), a spinoff from Healthier Choices Management Corp., has become an independent company focused on natural and organic health food grocery stores. The company has grown from an idea to 19 stores in six states, employing over 500 people, with expected annualized revenue of $78 million in 2025.
HCWC's growth strategy involves acquiring family-managed 'mom-and-pop' stores, maintaining their local identity and community connections. The company's year-over-year growth from 2022 to 2023 was 92%, increasing revenue from $29.3 million to $55.7 million. HCWC aims to complete another acquisition by early 2025, potentially bringing annualized revenue to over $100 million.
The company's leadership includes CEO Jeff Holman, CFO John Ollet, and COO Christopher Santi. HCWC acknowledges potential short-term stock price volatility due to the spinoff but expects growth and success to be reflected in the stock price over the next 12 months.
Healthy Choice Wellness Corp. (NYSEAM: HCWC) has successfully closed its initial public offering, raising approximately $4.0 million in gross proceeds. The company offered 400,000 shares of Class A common stock at $10.00 per share. Trading began on September 16, 2024, under the symbol 'HCWC'. The underwriters have a 45-day option to purchase up to 60,000 additional shares to cover over-allotments. Maxim Group acted as the sole book-running manager for the offering.
HCWC plans to use the net proceeds for general corporate purposes, including working capital and potential strategic acquisitions. The company focuses on providing consumers with healthier daily choices in nutrition and lifestyle alternatives.
Healthy Choice Wellness Corp. (HCWC) has announced its listing on the NYSE American and the pricing of its initial public offering (IPO). The company is offering 400,000 shares of Class A common stock at $10.00 per share, aiming to raise $4.0 million in gross proceeds. HCWC has also granted underwriters a 45-day option to purchase up to 60,000 additional shares. The company has completed its spin-off from Healthier Choices Management Corp, with shareholders receiving one Class A and three Class B shares for every 208,632 shares owned. Trading of Class A shares is expected to begin on September 16, 2024, under the symbol 'HCWC'. The IPO is set to close on September 17, 2024. Maxim Group is the sole book-running manager for the offering.
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