Huachen AI Parking Management Technology Holding Co., Ltd Announces Full Exercise of Underwriters’ Over-Allotment Option
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 11 2025
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Source: Globenewswire
IPO Over-Allotment Exercise: Huachen AI Parking Management Technology Holding Co., Ltd announced that underwriters fully exercised their over-allotment option, purchasing an additional 225,000 shares at $4.00 each, raising total gross proceeds to approximately $6.9 million from its initial public offering.
Use of Proceeds: The net proceeds from the offering will be allocated towards acquiring managerial rights for a new parking lot, developing advanced parking technologies, recruiting specialized personnel, and general corporate expenses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
