Toppoint Holdings Inc. Announces Pricing of $10 Million Initial Public Offering
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.
Toppoint Holdings ha annunciato la determinazione del prezzo della sua offerta pubblica iniziale (IPO) di 2.500.000 azioni a 4,00 $ per azione, con l'obiettivo di raccogliere 10 milioni di dollari in proventi lordi prima di dedurre i sconti sui sottoscrittori e altre spese. L'azienda ha concesso ai sottoscrittori un'opzione di 45 giorni per acquistare fino a ulteriori 375.000 azioni al prezzo dell'IPO per coprire eventuali sovrallocazioni.
Le contrattazioni dovrebbero iniziare il NYSE American il 22 gennaio 2025, sotto il simbolo 'TOPP'. L'offerta, condotta su base di impegno fermo con A.G.P./Alliance Global Partners come unico gestore del libro, è prevista chiudere intorno al 23 gennaio 2025, soggetta a consueti termini di chiusura.
Toppoint Holdings ha anunciado la fijación del precio de su oferta pública inicial (IPO) de 2,500,000 acciones a 4.00 $ por acción, con el objetivo de recaudar 10 millones de dólares en ingresos brutos antes de deducir los descuentos de suscripción y otros gastos. La compañía ha otorgado a los suscriptores una opción de 45 días para comprar hasta 375,000 acciones adicionales al precio de la IPO para cubrir sobreasignaciones.
Se espera que el comercio comience en el NYSE American el 22 de enero de 2025, bajo el símbolo 'TOPP'. La oferta, llevada a cabo sobre una base de compromiso firme con A.G.P./Alliance Global Partners como el único administrador del libro, se anticipa que cierre alrededor del 23 de enero de 2025, sujeto a las condiciones habituales de cierre.
Toppoint Holdings는 2,500,000 주의 공모가 $4.00 주당으로 설정된 초기 공모(IPO)를 발표했으며, $10 million의 총 수익을 목표로 하고 있습니다. 회사는 주간사에게 공모가로 최대 375,000 주를 추가로 매입할 수 있는 45일 선택권을 부여했습니다.
거래는 2025년 1월 22일에 NYSE American에서 'TOPP' 기호로 시작될 것으로 예상됩니다. A.G.P./Alliance Global Partners가 단독 주관하는 이 거래는 통상적인 종료 조건에 따라 2025년 1월 23일경에 마감될 것으로 예상됩니다.
Toppoint Holdings a annoncé le prix de son offre publique initiale (IPO) de 2.500.000 actions à 4,00 $ par action, visant à lever 10 millions de dollars de produits bruts avant déduction des remises de souscription et autres frais. L'entreprise a accordé aux souscripteurs une option de 45 jours pour acheter jusqu'à 375.000 actions supplémentaires au prix de l'IPO pour couvrir les surallocations.
Les échanges devraient commencer sur le NYSE American le 22 janvier 2025, sous le symbole 'TOPP'. L'offre, réalisée sur une base d'engagement ferme avec A.G.P./Alliance Global Partners en tant que gestionnaire principal, devrait se clôturer aux alentours du 23 janvier 2025, sous réserve des conditions de clôture habituelles.
Toppoint Holdings hat den Preis für ihr erstes Börsenangebot (IPO) von 2.500.000 Aktien zu 4,00 $ pro Aktie bekannt gegeben und zielt darauf ab, 10 Millionen Dollar an Bruttoerlösen zu erzielen, bevor die Underwriting-Rabatte und andere Ausgaben abgezogen werden. Das Unternehmen hat den Underwritern eine 45-tägige Option eingeräumt, um bis zu 375.000 Aktien zum IPO-Preis zu kaufen, um Überzeichnungen abzudecken.
Der Handel soll am NYSE American am 22. Januar 2025 unter dem Symbol 'TOPP' beginnen. Das Angebot, das auf einer festen Zusagebasis mit A.G.P./Alliance Global Partners als alleinigem Buchführungsmanager durchgeführt wird, wird voraussichtlich am 23. Januar 2025 schließen, vorbehaltlich der üblichen Abschlussbedingungen.
- Successful IPO pricing at $4.00 per share
- Listing on major exchange (NYSE American)
- Firm commitment basis offering, reducing execution risk
- Potential additional capital through 375,000 share over-allotment option
- Dilution of existing shareholders through new share issuance
- Additional expenses from underwriting discounts and offering costs will reduce net proceeds
Insights
Toppoint Holdings' $10 million IPO represents a micro-cap offering, positioning itself at the smaller end of the public markets spectrum. The $4.00 per share pricing suggests a strategic decision to maintain accessibility for retail investors while meeting NYSE American's listing requirements. For context, this is notably smaller than the average IPO size, which typically ranges in hundreds of millions.
The choice of NYSE American (formerly known as AMEX) is particularly telling - this exchange caters to smaller growth companies with more flexible listing requirements compared to the NYSE or NASDAQ main boards. This choice often indicates a growth-stage company seeking to establish public market presence while managing compliance costs.
The 45-day overallotment option for 375,000 additional shares (15% of the base offering) provides flexibility to meet excess demand and support post-IPO price stability. Having A.G.P. as the sole book-runner, rather than a syndicate of banks, aligns with the offering's size but may limit initial institutional distribution reach.
The firm commitment basis of the offering provides certainty of funding for Toppoint, as the underwriter assumes the risk of selling the shares. However, the relatively modest size and single underwriter structure suggest careful consideration should be given to potential trading liquidity in the early post-IPO period.
NORTH WALES, Pa., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Toppoint Holdings Inc. (“Toppoint” or the “Company”) today announced the pricing of its initial public offering of an aggregate of 2,500,000 shares of its common stock (the “Shares”), all of which are being offered by Toppoint at a public offering price of
In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 375,000 shares of common stock at the initial public offering price, representing
The Company’s common stock is expected to begin trading on the NYSE American on January 22, 2025 under the symbol “TOPP.”
The Offering is conducted on a firm commitment basis. A.G.P./Alliance Global Partners (“A.G.P.”) is the sole book-running manager for the Offering. Bevilacqua PLLC is acting as legal counsel to the Company and Loeb & Loeb LLP is acting as legal counsel to A.G.P. for the Offering.
The Offering is being conducted pursuant to the Company’s Registration Statement on Form S-1 (File No. 333-281474) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on January 21, 2025. The Offering is being made only by means of a prospectus. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. You may get these documents for free by visiting EDGAR on the SEC’s Website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, by phone at +1 (212) 624-2060, or by email at prospectus@allianceg.com.
This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made 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 other jurisdiction.
About Toppoint Holdings Inc.
Established in 2014 and headquartered in North Wales, Pennsylvania, Toppoint Holdings Inc. specializes in the transport of wastepaper, scrap metal, and wooden logs for large waste companies, recycling centers, and commodity traders. The Company’s operations extend to major ports, including Newark, NJ, and Philadelphia, PA. With a commitment to growth and innovation, Toppoint recently expanded into the recycling export transport markets of Tampa, Jacksonville, and Miami, FL; Baltimore, MD; and Ensenada, Mexico, as of 2024. The company also provides trucking and logistics brokerage solutions for plastic and other commodities, servicing key commercial hubs across the U.S. For additional information, please go to https://toppointtrucking.com/
FORWARD-LOOKING STATEMENTS
Certain statements in this press release are “forward-looking statements” as defined under the federal securities laws, including, but not limited to, the Company’s expectations regarding the completion, timing and size of the proposed Offering and statements regarding the use of proceeds from the sale of the Company’s shares in the Offering. 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, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “believe,” “plan,” “expect,” “intend,” “should,” “seek,” “estimate,” “will,” “aim,” and “anticipate,” or other similar expressions in this press release. 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 further information, please contact:
Underwriter Inquiries:
A.G.P./Alliance Global Partners
590 Madison Avenue, 28th Floor
New York, NY 10022
Email: prospectus@allianceg.com
Investor Relations Inquiries:
Crescendo Communications, LLC
212-671-1020
TOPP@crescendo-ir.com
FAQ
What is the total value of Toppoint Holdings' IPO (TOPP)?
When will TOPP stock begin trading on NYSE American?
What is the over-allotment option for Toppoint Holdings' IPO?
Who is the book-running manager for Toppoint Holdings' IPO?
When is Toppoint Holdings' IPO expected to close?
