Car House Holding Co., Limited which operates an online B2B marketplace for car products and a supplier of auto perfume in China, has filed Amendment No 1 to Form F-1 Registration Statement on July 24, 2020 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $27 million by offering 3.9 million shares at a price range of $6.50 to $7.50. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $79 million. The Guangdong, China-based company was founded in 2004 and booked $35 million in sales for the 12 months ended December 31, 2019.
The company plans to list on the Nasdaq Capital Market under the symbol “CARH.” Network 1 Financial Securities, Inc. is the sole bookrunner on the deal.
The company engages Ellenoff Grossman& Schole LLP as US Securities Counsel, Friedman LLP as Independent Auditor and China Research and Intelligence Co., Ltd as Independent Market Researcher. Among the risks noted in its Form F-1 Registration Statement on June 12, 2020, the company may face delisting if the bill to subject Chinese listings to PCAOB standards, currently reviewed by U.S. Congress, is implemented.
#ipo #nasdaq #carhouse #pcoab #onlineb2b #platform #carproduct
Hexcellence Consulting has experienced IPO consulting team focus on listing in US Stock Market,
namely NYSE, Nasdaq and OTC Markets.
Should you interested to list your company in US Stock Market,
please contact us at [email protected].