Armlogi Holding, a US provider of cross-border warehousing and logistics services for customers in China, raised $8 million by offering 1.6 million shares at $5, the low end of the range of $5 to $6. The company had originally filed to offer 2.0 million shares.
The Walnut, CA-based company provides one-stop warehousing and logistics services to cross-border e-commerce merchants outside the US (96% China) who seek to sell in the US market. The company offers a full spectrum of services, including customs brokerage services, transportation of merchandise to US warehouses, and warehouse management and order fulfillment services. Armlogi currently operates six warehouses across the country, and as of March 31, 2023, it had an active customer base of 58 merchants for its warehousing and logistics services.
Armlogi Holding plans to list on the Nasdaq under the symbol BTOC. EF Hutton acted as sole bookrunner on the deal.
