Huachen AI Parking Management Technology Holding Co., Ltd. (the “Company”) (Nasdaq: HCAI), a provider of comprehensive smart parking solutions and equipment components operating exclusively through its subsidiaries in China, announced the pricing of its initial public offering (IPO) of 1,500,000 ordinary shares, each with a par value of $0.00000125, at $4.00 per share. This results in total gross proceeds of $6 million before accounting for underwriting discounts and expenses. These ordinary shares are approved for listing on the Nasdaq Capital Market, commencing trading on February 5, 2025, under the ticker symbol “HCAI.” The IPO is anticipated to close around February 6, 2025, contingent upon customary closing conditions.
The underwriters hold an option, exercisable within 45 days of the IPO closing, to purchase up to an additional 225,000 ordinary shares at the public offering price (less underwriting discounts and commissions) to cover any over-allotment. This represents 15% of the shares offered.
The Company plans to allocate the IPO proceeds primarily to: (i) acquiring managerial and operational rights for a new parking lot; (ii) funding product research and development; (iii) recruiting specialized technical and operational personnel; and (iv) covering working capital and general corporate needs.
This is a firm commitment offering. Benjamin Securities, Inc. and D. Boral Capital LLC are acting as underwriters. Ortoli Rosenstadt LLP serves as U.S. securities counsel to the Company, while Sichenzia Ross Ference Carmel LLP acts as legal counsel to the underwriters for this offering.
This offering is conducted under the Company’s registration statement on Form F-1 (File No. 333-281543), as amended, filed with and declared effective by the Securities and Exchange Commission (SEC) on February 4, 2025. The offering is made solely via prospectus. These documents are freely available on the SEC’s EDGAR website. Alternatively, prospectuses can be obtained from Benjamin Securities, Inc. via email at [email protected], mail to 3 West Garden Street, Suite 407, Pensacola, FL 32502, or by phone at +1 (516) 931-1090; or from D. Boral Capital LLC via mail to D. Boral Capital LLC, 590 Madison Ave 39th Floor, New York, NY 10022, email at [email protected], or phone at +1(212)-970-5150.
Before investing, review the prospectus and other SEC filings for detailed information. This press release does not constitute an offer to sell or a solicitation of an offer to buy securities where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under applicable securities laws.
About Huachen AI Parking Management Technology Holding Co., Ltd
Huachen AI Parking Management Technology Holding Co., Ltd. is a Cayman Islands holding company without its own operations, consolidating the financial results of its subsidiaries. It’s a comprehensive smart parking solutions and equipment structural parts provider operating entirely through its subsidiaries in China. These subsidiaries offer customized parking solutions, encompassing smart cubic parking garage design, equipment manufacturing, sales, installation, and maintenance. They offer a range of cubic parking garage products based on various operating principles (lifting and shifting, convenient lifting, vertical circulation, vertical lifting, plane moving, alley stacking, multi-layer cycle, horizontal cycle, and car lift) to meet diverse customer needs. Additionally, the subsidiaries provide design, repair, and maintenance services.
Forward-Looking Statement
This press release includes forward-looking statements concerning plans, objectives, goals, strategies, future events or performance, underlying assumptions, and other non-historical statements. The use of words like “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” “continue,” or similar expressions (unless solely relating to historical matters) indicates forward-looking statements. This includes statements about the anticipated trading of ordinary shares on Nasdaq and the IPO closing. These statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially. Uncertainties include market conditions and the completion of the IPO on anticipated terms or at all, among other factors detailed in the “Risk Factors” section of the registration statement filed with the SEC. Investors should not rely unduly on these statements. Additional information is available in the Company’s SEC filings at [website address]. The Company is not obligated to update these forward-looking statements.
For more information, please contact:
Company Info:
Huachen AI Parking Management Technology Holding Co., Ltd
Alan Li
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Mobile: +852-95791074
