Marwynn Holdings, Inc. (MWYN) priced its micro-cap IPO at $4.00 – the low end of its $4.00-to-$5.00 range – and sold 2.0 million shares – the number of shares in the prospectus – to raise $8.0 million on Wednesday night, March 12, 2025. Marwynn Holdings’ stock opend at $4.60 – up 60 cents from its IPO price – late Thursday morning, March 13, 2025, on the NASDAQ. Shares of Marwynn Holdings closed their first day of trading at its session low of $4.30 – up 30 cents or 7.50 percent – on NASDAQ volume of 725,985 shares. Marwynn Holdings’ stock hit a session high of $4.86. At pricing, Marwynn Holdings had a market cap of $68.02 million. (Editor’s Note: This column, posted Wednesday night, March 12, 2025, was updated on Thursday, March 13, 2025, with news of Marwynn’s debut on the NASDAQ.)
American Trust Investment Services was the sole book-runner.
Marwynn Holdings, Inc., based in Irvine, California, is the parent of FuAn Enterprise, Inc., an importer and distributor of Asian food and non-alcoholic beverages, and Grand Forest, an indoor home improvement supply chain company, according to the prospectus. Grand Forest provides kitchen cabinets, flooring and other products from international suppliers to clients mostly in the San Francisco Bay area. The holding company is incorporated in Nevada.
There’s money to be made in the Asian food imports and kitchen cabinet supply businesses. Marwynn Holdings is profitable; the company reported net income of $0.19 million on revenue of $11.72 million for the 12 months that ended Oct. 31, 2024, according to financial statements in the prospectus.
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