IPOS - LAKESIDE HOLDING LIMITED ANNOUNCES CLOSING OF UPSIZED $6.75 MILLION INITIAL PUBLIC OFFERING | Benzinga
Itasca, IL, July 01, 2024 (GLOBE NEWSWIRE) -- Lakeside Holding Limited ("Lakeside" or the "Company") (NASDAQ:LSH), a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market, today announced the closing of its previously announced initial public offering (the "Offering") of 1,500,000 shares of common stock at a public offering price of $4.50 per share for total gross proceeds to the Company of $6.75 million, before deducting underwriting discounts and offering expenses.
The Company has granted a 30-day option to the underwriters to purchase up to 225,000 additional shares of common stock solely to cover over-allotments, if any.
The shares began trading on the Nasdaq Capital Market on June 28, 2024, under the ticker symbol "LSH."
Net proceeds from the offering will be used for strengthening our cross-border supply chain capabilities, marketing activities to grow our customer base, strategic investments and potential mergers and acquisitions in the future, and general corporate purposes.
The Benchmark Company, LLC and Axiom Capital Management, Inc. acted as joint book-running managers for the Offering.
DLA Piper UK LLP served as legal counsel for Lakeside, and Sheppard Mullin Richter & Hampton LLP served as legal counsel for the underwriters in connection with the Offering.
A registration ...