WALNUT, CA - Armlogi Holding Corp. (NASDAQ:BTOC), a provider of warehousing and logistics services, announced today the pricing of its initial public offering (IPO) at $5.00 per share. The company is offering 1.6 million shares to the public, aiming to raise $8 million in gross proceeds before underwriting discounts and offering expenses are applied.
The shares are due to start trading on the Nasdaq Global Market today under the ticker symbol "BTOC." Armlogi has also granted the underwriters a 45-day option to buy up to an additional 240,000 shares to cover any over-allotments. The closing of the offering is projected for tomorrow, subject to the satisfaction of customary closing conditions.
EF Hutton LLC is the sole book-running manager for the offering, with Hunter Taubman Fischer & Li LLC and VCL Law LLP serving as U.S. legal counsel to Armlogi and EF Hutton, respectively.
The offering follows the effectiveness of a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC), which was declared effective on May 13, 2024. Prospective investors can obtain copies of the final prospectus from EF Hutton LLC or via the SEC's website once available.
Armlogi Holding Corp. specializes in supply-chain solutions, including warehouse management and order fulfillment, primarily catering to cross-border e-commerce merchants. The company operates ten warehouses across approximately 1.8 million square feet, equipped to handle and store large and bulky items.
This press release contains forward-looking statements that are based on current expectations and projections about future events. These statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially. The company has not undertaken to update any forward-looking statements publicly.
The information reported is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy the securities mentioned.
InvestingPro Insights
As Armlogi Holding Corp. (NASDAQ:BTOC) commences its journey in the public market, prospective investors might consider the company's financial health and growth prospects. According to the latest data from InvestingPro, Armlogi boasts a Price to Earnings (P/E) ratio of 14.48, reflecting investor expectations for future earnings growth. Moreover, the company's Price to Book (P/B) ratio stands at 6.19, which could suggest that the market values its assets highly relative to the book value.
InvestingPro data also reveals robust financial growth, with a significant quarterly revenue growth rate of 44.12%. This figure indicates a strong upward trajectory in Armlogi's sales performance. The company's gross profit for the last twelve months as of Q2 2024 is reported at $25.02 million, with a gross profit margin of 15.56%, which could be a sign of its efficiency in managing its cost of goods sold.
InvestingPro Tips suggest that investors should pay close attention to Armlogi's operating income margin, which is currently 10.74%. This metric is crucial as it represents the proportion of revenue that remains after covering operating expenses, indicative of the company's operational efficiency. Additionally, with more in-depth analysis available on InvestingPro, subscribers can access over 20 additional InvestingPro Tips to help inform their investment decisions. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial analysis and market insights.
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