HUHUTECH International Group Inc. Partially Exercises IPO Over-Allotment Option “`
HUHUTECH International Group Inc. (Nasdaq: HUHU), a provider of factory facility management and monitoring systems, announced that its initial public offering underwriters partially exercised their over-allotment option. This involved purchasing an extra 123,413 ordinary shares at US$4.00 per share, generating an additional US$493,652 in gross proceeds. Including this, the offering totaled 1,173,413 ordinary shares, raising approximately US$4.69 million in gross proceeds before deducting underwriter discounts and expenses. The over-allotment option expired on November 21, 2024. Trading of the ordinary shares commenced on The Nasdaq Capital Market on October 22, 2024, under the symbol “HUHU.”
The offering proceeds will fund: (i) construction of a 5,000-square-meter R&D facility, R&D team expansion, additional facility construction, and equipment purchases for gas supply systems at the Wuxi plant; (ii) business expansion in China; (iii) working capital, team building, operating expenses, and general corporate purposes; and (iv) tax, provident fund, and social security payments.
The offering was a firm commitment undertaking. Craft Capital Management LLC served as the underwriters’ representative, with D. Boral Capital LLC (formerly EF Hutton LLC) as co-underwriter. Ortoli Rosenstadt LLP acted as U.S. counsel for HUHUTECH, and Hunter Taubman Fischer & Li LLC served as U.S. counsel for the underwriters.
A registration statement (Form F-1, File Number: 333-270958) was filed with and declared effective by the SEC on September 30, 2024. The offering was conducted solely via a prospectus included in the registration statement. Prospectuses are available from Craft Capital Management LLC (email: [email protected], mail: 377 Oak St, Lower Concourse, Garden City, NY 11530, phone: +1 (800) 550-8411); or D. Boral Capital LLC (email: [email protected], mail: 590 Madison Ave 39th floor, New York, NY 10022, phone: +1 (212) 970-5150); or the SEC website: [website address].
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities. No securities may be offered or sold in the United States without registration or an applicable exemption, and no offers, solicitations, or sales may occur where unlawful.
About HUHUTECH International Group Inc.
HUHUTECH International Group Inc. supplies factory facility management and monitoring systems. Through its Chinese and Japanese subsidiaries, it designs and provides customized high-purity gas and chemical production systems and equipment. Its products include high-purity process systems (HPS) and factory management control systems (FMCS), designed to improve operational efficiency using standardized modular software. This modularity minimizes errors from frequent program updates. HUHUTECH serves major players in the pan-semiconductor industry, providing products and services to semiconductor manufacturers, LED and microelectronics factories, and some pharmaceutical, food, and beverage manufacturers. Visit [website address] for more information.
Forward-Looking Statements
This announcement contains forward-looking statements involving known and unknown risks and uncertainties. These statements reflect the Company’s current expectations and projections about future events. Such statements often include words like “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar expressions. The Company disclaims any obligation to update forward-looking statements, except as required by law. While the Company believes these statements are reasonable, actual results may differ materially. Investors should review other factors affecting future results in the Company’s registration statement and SEC filings.
For more information, please contact:
HUHUTECH International Group Inc.
Investor Relations Department
Email: [email protected]
Ascent Investors Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: [email protected]
“`