STOCK TITAN

LAKESIDE HOLDING LIMITED ANNOUNCES PRICING OF $6.75 MILLION INITIAL PUBLIC OFFERING

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

On June 27, 2024, Lakeside Holding , a U.S.-based integrated cross-border supply chain solution provider, announced the pricing of its initial public offering (IPO). The IPO involves 1,500,000 shares of common stock priced at $4.50 per share, totaling $6.75 million in gross proceeds before underwriting discounts and expenses. The company has also granted a 30-day option to underwriters for an additional 225,000 shares to cover over-allotments.

Trading on the Nasdaq Capital Market under the ticker symbol 'LSH' is scheduled to begin on June 28, 2024, with the offering expected to close around July 1, 2024. The Benchmark Company, , and Axiom Capital Management, Inc. are the joint book-running managers for the IPO. A registration statement on Form S-1 was declared effective by the SEC on June 27, 2024.

Positive
  • Gross proceeds of $6.75 million from the IPO.
  • Scheduled trading on Nasdaq Capital Market under ticker 'LSH'.
  • 30-day option for underwriters to purchase an additional 225,000 shares.
Negative
  • Potential shareholder dilution due to the issuance of 1,500,000 new shares.

The announcement of Lakeside Holding Limited's IPO is a significant event for investors. With an initial offering price set at $4.50 per share and total gross proceeds anticipated at $6.75 million, the company positions itself as a new player on the Nasdaq Capital Market under the ticker 'LSH.' The option for underwriters to purchase an additional 225,000 shares could further increase the capital raised, enhancing financial flexibility.

For retail investors, the IPO pricing indicates a valuation that might be modest, suggesting an attractive entry point for those looking to diversify into the supply chain sector. It's essential to consider the potential dilution from the over-allotment option. The involvement of reputable joint book-runners such as The Benchmark Company and Axiom Capital Management also adds a layer of credibility to the offering.

Considering short-term implications, the IPO could lead to initial price volatility as the market digests new information. Long-term, the success of the offering and subsequent performance will depend on the company's ability to execute its strategic focus on the Asian market and manage its cross-border supply chain solutions efficiently. Investors should anticipate a period of adjustment as the market evaluates the company's growth potential and operational metrics against its industry peers.

Lakeside Holding Limited's focus on the Asian market provides a unique selling point for the company. The supply chain sector is critical, especially in light of recent global disruptions and positioning within this space sets the stage for potential growth. The IPO proceeds will likely be directed toward expanding operational capacity and technology integration, essential for optimizing supply chain operations.

For retail investors, understanding the target market dynamics is crucial. The Asian market is not only vast but also highly competitive. Lakeside's ability to carve out market share will be pivotal. Moreover, investors should keep an eye on the company's adaptability to regulatory changes and trade policies, which could impact cross-border supply chain operations.

In the short term, the IPO could enhance brand visibility and investor interest. Long-term success will hinge on the company's strategic initiatives and responsiveness to market demands. This IPO presents a balanced risk-reward scenario, dependent on the company's execution of its growth strategies.

Itasca, IL, June 27, 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 pricing of its 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 are scheduled to begin trading on the Nasdaq Capital Market on June 28, 2024, under the ticker symbol “LSH.” The Offering is expected to close on or about July 1, 2024, subject to customary closing conditions.

The Benchmark Company, LLC and Axiom Capital Management, Inc. are acting as joint book-running managers for the Offering.

A registration statement on Form S-1, as amended (File No. 333-278416), was filed with the United States Securities and Exchange Commission (the “SEC”) and was declared effective on June 27, 2024. The offering of the securities is being made only by means of a prospectus. Electronic copies of the final prospectus relating to the Offering may be obtained by visiting the SEC’s website located at http://www.sec.gov or by contacting The Benchmark Company, LLC, Attention: Prospectus Department, 150 E. 58th Street, 17th floor, New York, NY 10155, by email at prospectus@benchmarkcompany.com, or by telephone at (212) 312-6700.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Lakeside Holding Limited

Lakeside Holding Limited, based in Itasca, IL, is a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market, including China and South Korea. Operating under the brand American Bear Logistics, we primarily provide customized cross-border ocean freight solutions and airfreight solutions in the U.S. that specifically cater to our customers’ requirements and needs in transporting goods into the U.S. We are an Asian American-owned business rooted in the U.S. with in-depth understanding of both the U.S. and Asian international trading and logistics service markets. Our customers are typically Asia- and U.S.-based logistics service companies serving large e-commerce platforms, social commerce platforms, and manufacturers to sell and transport consumer and industrial goods made in Asia into the U.S. For more information, please visit https://lakeside-holding.com.  

Safe Harbor Statement

This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors,” may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.

Investor Relations Contact:

Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com


FAQ

What is the total gross proceeds from Lakeside Holding 's IPO?

Lakeside Holding 's IPO is expected to generate total gross proceeds of $6.75 million.

When will Lakeside Holding start trading on Nasdaq?

Lakeside Holding is scheduled to begin trading on Nasdaq Capital Market on June 28, 2024, under the ticker symbol 'LSH'.

How many shares are being offered in Lakeside Holding 's IPO?

Lakeside Holding is offering 1,500,000 shares of common stock in its IPO.

What is the IPO price per share for Lakeside Holding 's stock?

The IPO price per share for Lakeside Holding 's stock is $4.50.

Who are the joint book-running managers for Lakeside Holding 's IPO?

The Benchmark Company, , and Axiom Capital Management, Inc. are the joint book-running managers for Lakeside Holding 's IPO.

When is the expected closing date for Lakeside Holding 's IPO?

The expected closing date for Lakeside Holding 's IPO is on or about July 1, 2024.

What option is available to underwriters in Lakeside Holding 's IPO?

Underwriters have a 30-day option to purchase up to 225,000 additional shares to cover over-allotments.

Where can investors access the final prospectus for Lakeside Holding 's IPO?

Investors can access the final prospectus for Lakeside Holding 's IPO by visiting the SEC's website at http://www.sec.gov.

Lakeside Holding Limited

NASDAQ:LSH

LSH Rankings

LSH Latest News

LSH Stock Data

25.61M
7.50M
Integrated Freight & Logistics
Industrials
Link
United States of America
Itasca