Texxon Holding Limited Announces Pricing of $9.5 Million Initial Public Offering

Rhea-AI Summary

Texxon Holding (Nasdaq:NPT) priced an initial public offering of 1,900,000 ordinary shares at $5.00 per share for aggregate gross proceeds of $9.5 million, with an underwriter over-allotment option for up to 285,000 additional shares. The ordinary shares are approved to begin trading on the Nasdaq Capital Market on October 22, 2025, and the Offering is expected to close on or about October 23, 2025, subject to customary closing conditions.

Net proceeds are intended for: (i) construction and expansion of a Henan polystyrene factory, (ii) updating the supply chain management platform, and (iii) working capital. The Offering is on a firm commitment basis with D. Boral Capital LLC as sole book-running manager.

Positive

• Gross proceeds of $9.5 million from the Offering
• Shares approved to list on Nasdaq Capital Market and begin trading on Oct 22, 2025
• Use of proceeds earmarked for Henan polystyrene factory construction and expansion
• Underwriter granted 285,000 share over-allotment option

Negative

• Gross proceeds are $9.5 million before underwriting discounts and expenses
• Net proceeds will be reduced by underwriting discounts and other related expenses
• Offering close is contingent on customary closing conditions

Insights

Equity Capital Markets Analyst

Texxon priced a Nasdaq IPO for $9.5 million gross proceeds; proceeds earmarked for a Henan polystyrene factory, platform updates, and working capital.

The company is offering 1,900,000 ordinary shares at $5.00 per share with an additional over‑allotment option for 285,000 shares, and expects listing on the Nasdaq Capital Market under NPT on October 22, 2025. The underwriter is D. Boral Capital LLC, and the registration statement on Form F‑1 was declared effective on September 30, 2025.

The cash raised, before underwriting discounts and expenses, totals $9.5 million and will finance construction and expansion of the Henan Polystyrene Factory, updates to the supply chain management platform, and working capital. The Offering is on a firm commitment basis and is expected to close on or about October 23, 2025, subject to customary closing conditions.

Watch for the actual closing confirmation, the exercise or non‑exercise of the 285,000‑share over‑allotment option, and disclosures in the final prospectus and subsequent filings that quantify net proceeds and specific construction timelines and costs; these items will appear in near‑term SEC filings and closing notices.

Shanghai, China, Oct. 22, 2025 (GLOBE NEWSWIRE) -- Texxon Holding Limited (the “Company” or “Texxon”), a leading provider of supply chain management services in the plastics and chemical industries in East China, today announced the pricing of its initial public offering (the “Offering”) of 1,900,000 ordinary shares at a public offering price of US$5.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on October 22, 2025 under the ticker symbol “NPT.”

The Company expects to receive aggregate gross proceeds of US$9.5 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters an over-allotment option to purchase up to an additional 285,000 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about October 23, 2025, subject to the satisfaction of customary closing conditions.

The net proceeds from the Offering will be used for (i) construction of a factory to manufacture polystyrene, including production lines, storage facilities, and supporting infrastructure, located in Henan Province, China (the “Henan Polystyrene Factory”), and operations and the expansion of production facilities at the Henan Polystyrene Factory; (ii) updating supply chain management platform; and (iii) working capital.

The Offering is being conducted on a firm commitment basis. D. Boral Capital LLC is acting as the sole book-running manager for the Offering (the “Underwriter”).

A registration statement on Form F-1 relating to the Offering, as amended, has been filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-281530) and was declared effective by the SEC on September 30, 2025. The Offering is being made only by means of a prospectus. Copies of the prospectus relating to the Offering, when available, may be obtained from D. Boral Capital LLC by standard mail to D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, or by email at info@dboralcapital.com, or by calling +1 (212) 970-5150. In addition, copies of the final prospectus relating to the Offering, when available, can also be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company's 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 such state or jurisdiction.

About Texxon Holding Limited

Texxon Holding Limited is a leading provider of supply chain management services in the plastics and chemical industries in East China. Through its technology-enabled platform, the Company provides a full spectrum of services to Chinese SME customers, including procurement, shipping and logistics, payments and fulfillment services. It aspires to build the largest one-stop plastic and chemical raw material supply chain management platform in China, to streamline the complex and labor-intensive raw material procurement process and enhance convenience, cost-effectiveness, and efficiency for customers. Texxon has built a highly scalable distributed software architecture for continuous improvement, and an effective User Experience Design (UED) process to improve the customer experience. In addition, with over a decade of experience, the Company has amassed substantial transaction data, including supplier and customer information, price trends, category-specific price indexes and market demand volume, to analyze price trends and market demands and make informed decisions. For more information, please visit the Company’s website: ir.npt-cn.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s statements regarding the expected trading of its ordinary shares on the Nasdaq Capital Market, the closing of the Company’s proposed Offering and the Company’s statements regarding the intended use of proceeds from the Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For more information, please contact:

Texxon Holding Limited
Investor Relations Department
Email: ir@totrade.cn

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

FAQ

What did Texxon (NPT) price its IPO at and how many shares were offered on October 22, 2025?

Texxon priced 1,900,000 ordinary shares at $5.00 per share on October 22, 2025.

When will Texxon (NPT) begin trading on Nasdaq and what is the ticker symbol?

Texxon expects its ordinary shares to commence trading on the Nasdaq Capital Market on October 22, 2025 under the ticker NPT.

How much gross capital will Texxon (NPT) raise from the IPO and is there an over-allotment option?

The Offering is expected to raise gross proceeds of $9.5 million, with an over-allotment option to buy up to 285,000 additional shares.

What will Texxon (NPT) use the IPO proceeds for?

Net proceeds are planned for (i) construction and expansion of a Henan polystyrene factory, (ii) updating the supply chain management platform, and (iii) working capital.

Who is the lead manager for Texxon’s (NPT) IPO and when is the Offering expected to close?

D. Boral Capital LLC is the sole book-running manager and the Offering is expected to close on or about October 23, 2025, subject to customary closing conditions.