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Toppoint Holdings has announced an expansion of its partnership with Waste Management following the latter's acquisition of Winter Brothers Waste Systems. The expanded partnership is projected to generate up to $2 million in annual revenue through an additional 1,000 loads annually, with operations beginning in early Q2 2025.
Currently, Toppoint transports approximately 13% of Waste Management's recyclable materials for export through the ports of Newark, Philadelphia, and Baltimore. This expansion reinforces Toppoint's strategic position in the waste and recycling logistics sector and aligns with its growth strategy focused on increasing operational scale and optimizing logistics efficiency.
Toppoint Holdings has announced a strategic partnership with a leading Vietnamese freight company, marking a significant expansion of its import freight operations. The collaboration involves transporting goods from U.S. ports to the partner's domestic distribution points, leveraging Vietnam's position as the fourth-largest U.S. exporter with $119.6 billion in exports in 2024.
The partnership aims to optimize fleet utilization on both inbound and outbound routes. In 2024, approximately 80% of Toppoint's cargo was transported to ports, leading to fleet underutilization when picking up cargo. The company's import business has shown strong growth, with revenue increasing 30% year-over-year in the first nine months of 2024 compared to 2023.
Toppoint Holdings has successfully completed its Initial Public Offering (IPO), raising $10 million in gross proceeds through the sale of 2,500,000 shares at $4.00 per share. Trading began on the NYSE American exchange under the symbol TOPP on January 22, 2025.
The company granted the underwriter a 45-day option to purchase up to 375,000 additional shares at the offering price to cover over-allotments. Net proceeds will fund geographic expansions, physical and IT infrastructure investments, sales team expansion, marketing efforts, and general working capital.
A.G.P./Alliance Global Partners served as the sole book-running manager for this firm commitment offering, which was conducted under an SEC-effective Registration Statement on Form S-1.
Toppoint Holdings has announced the pricing of its initial public offering (IPO) of 2,500,000 shares at $4.00 per share, aiming to raise $10 million in gross proceeds before deducting underwriting discounts and other expenses. The company has granted underwriters a 45-day option to purchase up to an additional 375,000 shares at the IPO price to cover over-allotments.
Trading is expected to commence on the NYSE American on January 22, 2025, under the symbol 'TOPP'. The offering, conducted on a firm commitment basis with A.G.P./Alliance Global Partners as the sole book-running manager, is anticipated to close around January 23, 2025, subject to customary closing conditions.
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