HAOXIN HOLDINGS LIMITED Announces Pricing of Initial Public Offering

Rhea-AI Summary

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

Craft Capital Management and WestPark Capital are serving as representatives of the underwriters.

Positive

• IPO provides $7 million in new capital for business expansion
• Listing on Nasdaq Capital Market increases visibility and trading access
• Clear allocation plan for proceeds including fleet expansion and technology upgrade
• Strategic focus on acquisitions and business alliances for growth

Negative

• Small IPO size may limit institutional investor interest
• Potential dilution from additional 262,500 shares if underwriter option exercised
• Low IPO price of $4.00 might suggest growth expectations

Insights

Financial Analyst

Haoxin Holdings has priced its IPO at $4.00 per Class A ordinary share, raising $7 million in gross proceeds through the offering of 1,750,000 shares. The Chinese logistics company, which provides temperature-controlled truckload and urban delivery services, will begin trading on the Nasdaq Capital Market under the ticker HXHX on April 15.

The IPO size is relatively modest by U.S. market standards, placing Haoxin in the micro-cap category. The company's clear allocation strategy for the proceeds demonstrates a focus on operational expansion through vehicle acquisition and strategic growth via potential acquisitions. The investment in IT systems upgrades suggests an attempt to improve operational efficiency in the competitive logistics space.

This listing represents another Chinese company seeking U.S. capital markets access despite ongoing regulatory tensions between the countries. The firm commitment structure of the offering provides some confidence that underwriters believe the shares can be placed successfully. The 45-day option granted to underwriters to purchase an additional 262,500 shares (15% of the offering) is standard for IPOs of this size.

For investors considering this opportunity, it's worth examining the competitive positioning of Haoxin in China's temperature-controlled logistics market and evaluating the company's growth trajectory and margin profile against industry peers to determine if the $4.00 share price represents appropriate valuation.

Ningbo, China, April 14, 2025 (GLOBE NEWSWIRE) -- Haoxin Holdings Limited (“Haoxin” or the "Company") (NasdaqCM: HXHX), a provider of temperature-controlled truckload services and urban delivery services in China, today announced the pricing of its initial public offering (the "Offering") of 1,750,000 Class A ordinary shares, $0.0001 par value per share, at a public offering price of $4.00 per ordinary share, for total gross proceeds of $7 million, before deducting underwriting discounts and commissions and offering expenses. The Offering is being conducted on a firm commitment basis. The Class A ordinary shares are expected to commence trading on Nasdaq Capital Market under the ticker symbol “HXHX” on April 15, 2025.

The Company has granted the underwriters an option, exercisable within 45 days from the date of the underwriting agreement, to purchase up to an additional 262,500 Class A ordinary shares at the public offering price, less underwriting discounts and commissions. The Offering is expected to close on April 16, 2025, subject to customary closing conditions.

The Company intends to use the proceeds from the Offering for: i) the purchase of new vehicles; ii) acquisitions and business alliances; iii) an IT systems upgrade; and iv) general working capital.

Craft Capital Management LLC and WestPark Capital, Inc. are acting as the representatives of the underwriters for the Offering. Ortoli Rosenstadt LLP is acting as counsel to the Company. Haneberg Hurlbert PLC is acting as counsel to the underwriters with respect to the Offering.

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 Securities and Exchange Commission (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.

Before you invest, you should read the final prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. 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 services 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, including but not limited to, the Offering. 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

What is the IPO price and size for Haoxin Holdings (HXHX)?

Haoxin Holdings' IPO is priced at $4.00 per share for 1,750,000 Class A ordinary shares, targeting to raise $7 million in gross proceeds.

When will HXHX stock start trading on Nasdaq?

HXHX is scheduled to begin trading on Nasdaq Capital Market on April 15, 2025.

How will Haoxin Holdings (HXHX) use its IPO proceeds?

HXHX will use proceeds for purchasing new vehicles, acquisitions and business alliances, IT systems upgrade, and general working capital.

What is the underwriters' option in the HXHX IPO?

Underwriters have a 45-day option to purchase up to 262,500 additional Class A ordinary shares at the public offering price.

Which firms are underwriting the Haoxin Holdings (HXHX) IPO?

Craft Capital Management and WestPark Capital, Inc. are acting as the representatives of the underwriters for the IPO.