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HUHUTECH International Group, a provider of factory facility management and monitoring systems, announced the closing of its initial public offering on Nasdaq Capital Market under symbol HUHU. The company offered 1,050,000 ordinary shares at $4.0 per share, raising gross proceeds of $4.2 million. Underwriters have a 45-day option to purchase additional 157,500 shares. Proceeds will fund R&D plant construction, business expansion in China, working capital, and operational expenses. Craft Capital Management and EF Hutton served as underwriters for this firm commitment offering.
HUHUTECH International Group, a provider of factory facility management and monitoring systems, has announced the pricing of its initial public offering (IPO) of 1,050,000 ordinary shares at US$4.0 per share. The company expects to raise US$4.2 million in gross proceeds. Shares are set to begin trading on the Nasdaq Capital Market under the ticker symbol 'HUHU' on October 22, 2024.
The IPO is expected to close around October 23, 2024. Underwriters have a 45-day option to purchase up to 157,500 additional shares. Proceeds will fund the construction of an R&D plant, business expansion in China, working capital, and other corporate purposes. Craft Capital Management is the lead underwriter, with EF Hutton as co-underwriter.
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