Autozi Internet Technology, which sells parallel import cars and auto parts in China, raised $10 million by offering 2.5 million shares at $4.00, the low end of the range of $4.00 to $5.00.
Autozi provides automotive products and services through online and offline channels in China. The company's business segments include new car sales, primarily parallel import cars; auto parts and auto accessories sales, primarily lubricating oil; and automotive insurance related services.
The Beijing, China-based company was founded in 2010 and booked $118 million in revenue for the 12 months ended March 31, 2024. Autozi plans to list on the Nasdaq under the symbol AZI. Kingswood Capital Markets acted as sole bookrunner on the deal.
