Hongli Group Inc. Announces Pricing of Initial Public Offering
Hongli Group Inc. - Ordinary Shares (HLP)
Company Research
Source: GlobeNewswire
WEIFANG, CHINA, March 29, 2023 (GLOBE NEWSWIRE) -- Hongli Group Inc. (the "Company") (NASDAQ: HLP) today announced the pricing of its initial public offering (the "Offering") of 2,062,500 ordinary shares (the "Ordinary Shares") at a public offering price of $4.00 per share for total gross proceeds of $8.25 million before deducting underwriting discounts and offering expenses. The Company is a holding company that, through a series of contractual arrangements, consolidates the financial results of Shandong Hongli Special Section Tube Co., Ltd. and its subsidiaries, which is one of the leading cold roll formed steel profile manufacturers in China with respect to function innovation, performance improvement, and customized manufacturing of the products, according to China Sub-Association for Cold Formed Steel Industries, a professional industrial association. The Offering is being conducted on a firm commitment basis. The Ordinary Shares have been approved for listing on The Nasdaq Ca
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