Core Viewpoint - Texxon Holding Limited successfully closed its initial public offering, raising US$9.5 million by offering 1,900,000 ordinary shares at US$5.00 each, with trading commencing on the Nasdaq Capital Market under the ticker symbol "NPT" [1] Group 1: Offering Details - The offering included an over-allotment option for underwriters to purchase an additional 285,000 ordinary shares at the public offering price [1] - The offering was conducted on a firm commitment basis, with D. Boral Capital LLC serving as the sole book-running manager [3] Group 2: Use of Proceeds - Net proceeds from the offering will be allocated to the construction of a polystyrene manufacturing factory in Henan Province, China, including production lines and storage facilities [2] - Funds will also be used to update the supply chain management platform and for working capital [2] Group 3: Company Overview - Texxon Holding Limited is a leading provider of supply chain management services in the plastics and chemical industries in East China, aiming to create the largest one-stop supply chain management platform for raw materials [6] - The company utilizes a technology-enabled platform to offer a full range of services to small and medium-sized enterprises (SMEs) in China, enhancing convenience and efficiency in the procurement process [6] - With over a decade of experience, Texxon has accumulated substantial transaction data to analyze market trends and make informed decisions [6]
Texxon Holding Limited Announces Closing of $9.5 Million Initial Public Offering