HUHUTECH International Group Inc. Announces Closing of Initial Public Offering
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, fornitore di sistemi di gestione e monitoraggio degli impianti industriali, ha annunciato la chiusura della sua offerta pubblica iniziale sul mercato Nasdaq Capital Market con il simbolo HUHU. L'azienda ha offerto 1.050.000 azioni ordinarie a 4,0 dollari per azione, raccogliendo proventi lordi di 4,2 milioni di dollari. Gli underwriting hanno un'opzione di 45 giorni per acquistare ulteriori 157.500 azioni. I proventi finanzieranno la costruzione di un impianto di R&D, l'espansione aziendale in Cina, il capitale di esercizio e le spese operative. Craft Capital Management ed EF Hutton hanno servito come underwriting per questa offerta a impegno fermo.
HUHUTECH International Group, proveedor de sistemas de gestión y monitoreo de instalaciones fabriles, anunció el cierre de su oferta pública inicial en el Nasdaq Capital Market bajo el símbolo HUHU. La compañía ofreció 1,050,000 acciones ordinarias a $4.0 por acción, recaudando ingresos brutos de $4.2 millones. Los suscriptores tienen una opción de 45 días para comprar 157,500 acciones adicionales. Los ingresos se destinarán a la construcción de una planta de I+D, expansión del negocio en China, capital de trabajo y gastos operativos. Craft Capital Management y EF Hutton actuaron como suscriptores para esta oferta de compromiso firme.
HUHUTECH International Group는 공장 시설 관리 및 모니터링 시스템 제공업체로, Nasdaq Capital Market에서 HUHU라는 심볼로 상장 공모 종료를 발표했습니다. 이 회사는 주당 4.0달러에 1,050,000주의 보통주를 제공하여 총 420만 달러의 수익을 올렸습니다. 인수자는 추가로 157,500주를 구매할 수 있는 45일 옵션을 가지고 있습니다. 수익금은 R&D 공장 건설, 중국에서의 사업 확장, 운영 자본 및 운영 비용에 사용될 것입니다. Craft Capital Management와 EF Hutton이 이 고정 약정 제공의 인수인으로 활동했습니다.
HUHUTECH International Group, fournisseur de systèmes de gestion et de surveillance d'installations industrielles, a annoncé la clôture de son introduction en bourse sur le marché Nasdaq Capital Market sous le symbole HUHU. L'entreprise a proposé 1 050 000 actions ordinaires à 4,0 dollars par action, générant des produits bruts de 4,2 millions de dollars. Les souscripteurs disposent d'une option de 45 jours pour acheter 157 500 actions supplémentaires. Les recettes serviront à financer la construction d'une usine de R&D, l'expansion des activités en Chine, le fonds de roulement et les frais opérationnels. Craft Capital Management et EF Hutton ont servi de souscripteurs pour cette offre à engagement ferme.
HUHUTECH International Group, ein Anbieter von Management- und Überwachungssystemen für Fabrikanlagen, hat den Abschluss seines Initial Public Offerings an der Nasdaq Capital Market unter dem Symbol HUHU bekannt gegeben. Das Unternehmen bot 1.050.000 Stammaktien zu 4,0 Dollar pro Aktie an und erzielte Bruttoeinnahmen von 4,2 Millionen Dollar. Die Underwriter haben eine 45-tägige Option, weitere 157.500 Aktien zu kaufen. Die Erlöse werden für den Bau eines F&E-Werks, die Geschäftserweiterung in China, das Betriebskapital und Betriebskosten verwendet. Craft Capital Management und EF Hutton fungierten als Underwriter für dieses verbindliche Angebot.
- Successfully completed IPO raising $4.2 million in gross proceeds
- Listed on Nasdaq Capital Market, providing access to broader capital markets
- Planned expansion with 5,000 square meter R&D plant construction
- Clear allocation of funds for business growth and infrastructure development
- Relatively small IPO size of $4.2 million may limit growth potential
- Potential dilution if underwriters exercise option for additional 157,500 shares
Insights
This IPO marks HUHUTECH's entry into the U.S. public markets, raising
The capital allocation strategy focuses heavily on R&D and expansion, with plans for a new 5,000 square meter R&D plant and team expansion in Wuxi. This indicates a growth-oriented approach, though investors should note the modest size of the raise may limit the scope of these initiatives.
The firm commitment underwriting structure provides some validation of the offering, though the involvement of smaller investment banks (Craft Capital and EF Hutton) rather than major underwriters suggests institutional interest at this stage. Investors should monitor the 45-day option for additional shares as an indicator of initial market reception.
Operating in China's industrial automation sector, HUHUTECH enters the market amid growing demand for smart factory solutions and facility management systems. The timing aligns with China's push toward industrial modernization and efficiency improvements in manufacturing.
However, the company faces significant competition from both domestic Chinese players and international automation giants. The relatively small capital raise may challenge their ability to capture meaningful market share. The focus on Wuxi expansion suggests a regional strategy that could limit near-term growth potential.
Investors should consider the broader geopolitical context and U.S.-China tensions, which could impact market perception and valuation of Chinese companies listed on U.S. exchanges. The regulatory environment for Chinese ADRs remains complex and warrants careful consideration.
Wuxi, China, Oct. 23, 2024 (GLOBE NEWSWIRE) -- HUHUTECH International Group Inc. (Nasdaq: HUHU) (the “Company” or “HUHUTECH”), a professional provider of factory facility management and monitoring systems, today announced the closing of its initial public offering (the “Offering”) of 1,050,000 ordinary shares (“Ordinary Shares”) at a public offering price of US
The Company received aggregate gross proceeds of US
Proceeds from the Offering will be used for: (i) the construction of a 5,000 square meter R&D plant, the expansion of the R&D team, the construction of addition facilities, and purchase of equipment for the production of equipment for gas supply system in the Company’s Wuxi plant; (ii) the expansion and development of the Company’s business located in the PRC; (iii) working capital, team building, operating expenses and other general corporate purposes, and (iv) paying taxes, provident fund, and social security.
The Offering was conducted on a firm commitment basis. Craft Capital Management LLC acted as the representative of the underwriters, with EF Hutton LLC acted as the co-underwriter (collectively, the “Underwriters”) for the Offering. Ortoli Rosenstadt LLP acted as U.S. counsel to the Company and Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the Underwriters in connection with the Offering.
A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-270958), as amended, and was declared effective by the SEC on September 30, 2024. The Offering was made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from Craft Capital Management LLC by email at info@craftcm.com, by standard mail to 377 Oak St, Lower Concourse, Garden City, NY 11530, or by telephone at +1 (800) 550-8411; or from EF Hutton LLC by email at syndicate@efhutton.com, by standard mail to 590 Madison Ave 39th floor, New York, NY 10022, or by telephone at +1 (212) 970-5150. In addition, copies of the final prospectus relating to the Offering, may be obtained via the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s 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 such state or jurisdiction.
About HUHUTECH International Group Inc.
HUHUTECH International Group Inc. is a professional provider of factory facility management and monitoring systems. Through its subsidiaries in China and Japan, HUHUTECH designs and provides customized high-purity gas and chemical production system and equipment. The Company’s products mainly include high-purity process systems (HPS) and factory management control systems (FMCS), which effectively increase operation efficiency by using standardized module software. The modularity of HUHUTECH’s software solution reduces the errors caused by frequent updates of the program. As a nationally recognized brand, HUHUTECH serve major players in the pan-semiconductor industry. Its products and services are widely used by semi-conductor manufacturers, LED and micro-electronics factories, as well as some pharmaceutical, food and beverage manufacturers. For more information, please visit the Company’s website: ir.huhutech.com.cn.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For more information, please contact:
HUHUTECH International Group Inc.
Investor Relations Department
Email: ir@huhutech.com.cn
Ascent Investors Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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