Smart Logistics Global Limited Announces Closing of Initial Public Offering

Core Viewpoint - Smart Logistics Global Limited has successfully completed its initial public offering, raising $5 million through the sale of 1,000,000 ordinary shares at a price of $5.00 per share, with trading commencing on the Nasdaq Capital Market under the ticker symbol "SLGB" [1][2]. Group 1: Offering Details - The offering included an option for underwriters to purchase an additional 150,000 ordinary shares within 45 days to cover over-allotments [2]. - The offering was conducted on a firm commitment basis, with Craft Capital Management LLC as the representative of the underwriters and Revere Securities LLC as the co-manager [2]. Group 2: Use of Proceeds - The company plans to allocate 50% of the proceeds from the offering for infrastructure investments, 30% for working capital, and 20% for research and development expenses [3]. Group 3: Company Background - Smart Logistics Global Limited has been operating since 2018 as a B2B contract logistics provider in China, focusing on the transportation of industrial raw materials [6]. - The company offers tailored logistics solutions primarily through land-only transportation services for large institutional clients, leveraging a proprietary Transportation Management System to optimize operations [6]. - The company has invested in advanced logistics infrastructure, including a 110,000-square-meter smart logistics park in Jiangxi Province and seven full-truck load centers across China, enhancing its operational capabilities and growth potential [6].