Core Viewpoint - HUHUTECH International Group Inc. successfully closed its initial public offering, raising US$4.2 million by offering 1,050,000 ordinary shares at a price of US$4.0 per share, with trading commencing on the Nasdaq Capital Market under the ticker symbol "HUHU" [1] Group 1: Offering Details - The offering consisted of 1,050,000 ordinary shares priced at US$4.0 each, generating gross proceeds of US$4.2 million before expenses [1] - Underwriters were granted a 45-day option to purchase an additional 157,500 ordinary shares at the public offering price [1][2] - The offering was conducted on a firm commitment basis, with Craft Capital Management LLC as the representative underwriter and EF Hutton LLC as the co-underwriter [2] 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] - Additional funds will support the expansion and development of the company's business in China, working capital, team building, operating expenses, and general corporate purposes [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 and factory management control systems, aimed at enhancing operational efficiency [5] - HUHUTECH serves major players in the pan-semiconductor industry, with applications in semiconductor manufacturing, LED, micro-electronics, pharmaceuticals, and food and beverage sectors [5]
HUHUTECH International Group Inc. Announces Closing of Initial Public Offering