HAOXIN HOLDINGS LIMITED Announces Closing of Initial Public Offering
Rhea-AI Summary
Haoxin Holdings (NasdaqCM: HXHX), a Chinese provider of temperature-controlled truckload and urban delivery services, has successfully completed its Initial Public Offering (IPO). The company offered 1,750,000 Class A ordinary shares at $4 per share, raising gross proceeds of $7 million before deducting underwriting costs and related expenses.
Trading of HXHX shares commenced on the Nasdaq Capital Market on April 15, 2025. The underwriters, Craft Capital Management and WestPark Capital Inc., have a 45-day option to purchase an additional 262,500 Class A ordinary shares at the public offering price, less underwriting discounts.
Positive
- Successfully completed IPO and listed on Nasdaq Capital Market
- Raised $7 million in gross proceeds
- Potential for additional capital through underwriters' option
Negative
- Relatively small IPO size of $7 million
- Proceeds subject to reduction from underwriting discounts and expenses
News Market Reaction 1 Alert
On the day this news was published, HXHX declined 13.83%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Ningbo, China, April 16, 2025 (GLOBE NEWSWIRE) -- Haoxin Holdings Limited (“Haoxin” or the "Company") (NasdaqCM: HXHX), a provider of temperature-controlled truckload service and urban delivery services in China, today announced the closing of its initial public offering (the "Offering") of 1,750,000 Class A ordinary shares at a public offering price of
The Company received aggregate gross proceeds of
Craft Capital Management LLC and WestPark Capital, Inc. acted as the representatives for the Offering. Ortoli Rosenstadt LLP served as counsel to the Company. Haneberg Hurlbert PLC served as counsel to the underwriters.
A registration statement on Form F-1, as amended (File No. 333-269681) relating to the Offering was previously filed with the Securities and Exchange Commission (“SEC”) by the Company, and subsequently declared effective by the SEC on March 31, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Electronic copies of the final prospectus related to the Offering may be obtained, when available, from Craft Capital Management LLC by emailing info@craftcm.com or calling +1 (800) 550-8411, and from WestPark Capital, Inc. by emailing info@wpcapital.com or calling (310) 843-9300.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, 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 Haoxin Holdings Limited
Haoxin Holdings Limited is a provider of temperature-controlled truckload service and urban delivery services in China. We mainly provide transportation services with our large and medium-sized temperature-controlled logistics transportation vehicles. We also provide urban delivery services with our medium-sized vans to customers who have short-distance, intra-city delivery needs. The goods we take charge of transporting focus on factory logistics, which include electronic devices, chemicals, fruit, food and commercial goods. Our transportation network covers 30 out of the 34 provinces and autonomous regions in China. For more information, visit the Company's website at ir.haoxinholdings.com.
Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update 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 in its other filings with the SEC.
For more information, please contact:
Investor Relations:
Sherry Zheng
WAVECREST GROUP INC.
Phone: 718-213-7386
Email: sherry@wavecrestipo.com
FAQ
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