China’s HUHUTECH International (HUHU) cuts its IPO at pricing to 1.05 million shares – down from 1.25 million shares in the prospectus – and priced the deal at $4.00 – the low end of its $4.00-to-$6.00 price range – to raise $4.2 million on Monday night, Oct. 21, 2024. HUHUTECH International’s stock opened flat – at $4.00 – at 10:20 a.m. EDT today – Tuesday, Oct. 22, 2024 – on the NASDAQ on volume of 123,559 shares.
Craft Capital Management and EF Hutton acted as joint book-runners.
HUHUTECH International Corp., based in Wuxi City, China, says that through its operating subsidiaries, it offers high-purity process systems (“HPS”) and factory management and control systems (“FMCS”) for its industrial clients. Its clients are mainly semi-conductor manufacturers and electronics manufacturers in China.
The company is profitable. HUHUTECH Management reported net income of $2.33 million on revenue of $16.73 million for the 12 months that ended Dec. 31, 2023, according to financial statements in the prospectus.
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