Core Viewpoint - HUHUTECH International Group Inc. successfully completed a partial exercise of the over-allotment option in its initial public offering, raising additional gross proceeds of approximately $493,652, bringing total gross proceeds to about $4.69 million [1] Group 1: Offering Details - The underwriters partially exercised their over-allotment option to purchase an additional 123,413 ordinary shares at a public offering price of $4.00 per share [1] - The total number of ordinary shares sold in the public offering increased to 1,173,413 ordinary shares [1] - The offering was conducted on a firm commitment basis, with Craft Capital Management LLC as the representative of the underwriters [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 and the expansion of the R&D team [1] - Funds will also be used for the expansion and development of the Company's business in the PRC, working capital, team building, operating expenses, and other general corporate purposes [1] - Additional allocations include paying taxes, provident fund, and social security [1] 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), aimed at increasing operational efficiency [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 Partial Exercise of Over-Allotment Option