Core Viewpoint - Eastern International Ltd. has successfully completed its initial public offering (IPO) by selling 1,600,000 ordinary shares at a price of $4.00 per share, raising gross proceeds of $6.4 million before expenses [1][3]. Company Overview - Eastern International Ltd. is a holding company incorporated in the Cayman Islands, providing domestic and cross-border professional logistic services through its wholly owned subsidiary, Suzhou TC-Link Logistics Co., Ltd. [6] - Suzhou TC-Link was established in 2006 and has obtained the ISO 9001 certificate for high-quality service, operating a network that covers key cities in mainland China, Hong Kong, Southeast Asia, and Central Asia [6]. IPO Details - The shares began trading on the Nasdaq Capital Market under the symbol "ELOG" on August 28, 2025 [2]. - The company has granted Maxim Group LLC a 45-day option to purchase an additional 240,000 shares at the offering price, representing 15% of the shares sold in the offering [2]. - Maxim Group LLC acted as the sole book-running manager for the offering, with FisherBroyles, LLP and Hunter Taubman Fischer & Li LLC serving as legal counsel [3]. Financial Information - The total gross proceeds from the offering amounted to $6.4 million, prior to deducting underwriting discounts and other related expenses [3]. - The offering was conducted under the company's Registration Statement on Form F-1, which was declared effective by the U.S. Securities and Exchange Commission on August 27, 2025 [4].
Eastern International Ltd. Announces Closing of $6.4 Million Initial Public Offering