WALNUT, CA - Armlogi Holding Corp., a U.S.-based provider of warehousing and logistics services, has announced the pricing of its initial public offering (IPO) at $5.00 per share. The company, trading under the Nasdaq ticker symbol BTOC, is offering 1,600,000 shares to raise $8 million in gross proceeds before deductions for underwriting discounts and offering expenses.
The shares are expected to commence trading on the Nasdaq Global Market on Tuesday, with the IPO anticipated to close around Wednesday, subject to standard closing conditions. Armlogi has also granted underwriters a 45-day option to buy up to an additional 240,000 shares to manage over-allotments.
EF Hutton LLC is the sole book-running manager for the offering. Legal counsel for the transaction includes Hunter Taubman Fischer & Li LLC for Armlogi and VCL Law LLP for EF Hutton LLC.
The company, headquartered in Walnut, CA, operates ten warehouses totaling approximately 1.8 million square feet. It focuses on providing one-stop warehousing and logistics services, specializing in handling and storing large and bulky items for cross-border e-commerce merchants establishing overseas warehouses in the U.S. market.
The effectiveness of the IPO was part of a registration statement on Form S-1 filed with the United States Securities and Exchange Commission (SEC), which became effective on the date of the announcement. The final prospectus related to the offering will be available through EF Hutton LLC and on the SEC's website.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities. Any sales will be made only through a prospectus meeting the registration requirements of the SEC, and such sales will not be valid in any state or jurisdiction where unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
The information in this article is based on a press release statement from Armlogi Holding Corp.
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