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Huadi International Group Co, Ltd. Announces Pricing of $25 Million Initial Public Offering
Wenzhou, China, February 1, 2021/ -- Huadi International Group Co., Ltd. (“HUDI” or the “Company”) (NASDAQ: HUDI), a leading developer and manufacturer of industrial stainless steel seamless pipes and tubes products in China, today announces the closing of its initial public offering of 3,125,000 ordinary shares at a public offering price of $8.00 per ordinary share, for total gross proceeds of $25 million before deducting underwriting discounts and commissions and offering expenses. The offering was conducted on a firm commitment basis. In addition, the Company has granted the underwriters an option, exercisable within 45 days from the date of the underwriting agreement, to purchase up to an additional 468,750 shares at the public offering price, less underwriting discounts and commissions. The offering closed on January 26, 2021 and shares began trading on January 22, 2021 on NASDAQ Capital Market under the symbol “HUDI.”