Core Viewpoint - HUHUTECH International Group Inc. has announced the pricing of its initial public offering (IPO) of 1,050,000 ordinary shares at a price of US$4.0 per share, aiming to raise approximately US$4.2 million before expenses, with trading expected to commence on October 22, 2024 under the ticker symbol "HUHU" [1][2]. Group 1: Offering Details - The IPO consists of 1,050,000 ordinary shares priced at US$4.0 each, with expected gross proceeds of US$4.2 million [1]. - Underwriters have a 45-day option to purchase an additional 157,500 ordinary shares at the public offering price [1]. - The offering is expected to close on or about October 23, 2024, subject to customary closing conditions [1]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated for the construction of a 5,000 square meter R&D plant, expansion of the R&D team, and purchase of equipment for gas supply systems at the Wuxi plant [2]. - Funds will also support the expansion and development of the Company's business in the PRC, working capital, team building, operating expenses, and other general corporate purposes [2]. - Additional allocations include paying taxes, provident fund, and social security [2]. Group 3: Company Overview - HUHUTECH International Group Inc. specializes in factory facility management and monitoring systems, providing customized high-purity gas and chemical production systems [5]. - The Company’s products include high-purity process systems (HPS) and factory management control systems (FMCS), enhancing operational efficiency through standardized modular software [5]. - HUHUTECH serves major players in the pan-semiconductor industry, with applications in semiconductor manufacturing, LED and micro-electronics, as well as pharmaceutical and food and beverage sectors [5].
HUHUTECH International Group Inc. Announces Pricing of Initial Public Offering