Core Viewpoint - Lakeside Holding Limited has entered into a securities purchase agreement to sell senior secured convertible promissory notes for up to $4.5 million, aimed at enhancing its working capital and expanding its operations in the Asia-Pacific market [1][2]. Company Overview - Lakeside Holding Limited is a U.S.-based cross-border supply chain solution provider focusing on the Asia-Pacific market, operating through two subsidiaries: American Bear Logistics and Hupan Pharmaceutical (Hubei) Co., Ltd. [3][5]. - The company offers tailored logistics solutions across general and specialized sectors, enhancing its service capabilities [3]. Financial Details - The company plans to utilize the net proceeds from the offering for working capital purposes, with the initial closing of the first tranche resulting in gross proceeds of approximately $930,000 from a $1 million note and associated warrants [2]. - The notes have a 7% original issue discount and 40% warrant coverage, indicating a strategic financial maneuver to raise capital [1]. Subsidiary Operations - American Bear Logistics provides customized cross-border ocean and airfreight solutions, connecting Asia-based logistics service companies and e-commerce platforms with the U.S. market [4]. - The acquisition of Hupan Pharmaceutical (Hubei) Co., Ltd. enhances Lakeside's pharmaceutical logistics and distribution capabilities within China, reflecting its commitment to integrated cross-border logistics solutions [5].
LAKESIDE HOLDING ANNOUNCES A CONVERTIBLE DEBT FINANCING OF UP TO $4.5 MILLION