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Haoxin Holdings (NasdaqCM: HXHX), a Chinese provider of temperature-controlled truckload and urban delivery services, has announced the pricing of its Initial Public Offering. The company is offering 1,750,000 Class A ordinary shares at $4.00 per share, aiming to raise $7 million in gross proceeds before deductions.
Trading is expected to commence on Nasdaq Capital Market under ticker 'HXHX' on April 15, 2025. Underwriters have a 45-day option to purchase up to 262,500 additional shares. The IPO closing is anticipated for April 16, 2025.
The proceeds will be allocated to:
- Purchase of new vehicles
- Acquisitions and business alliances
- IT systems upgrade
- General working capital
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