Toppoint Holdings, a truckload services provider focused on the recycling export supply chain, raised $10 million by offering 2.5 million shares at $4, the low end of the range of $4 to $6.
Operating as a specialized regional trucking and logistics provider with a significant presence in New Jersey and Pennsylvania, Toppoint primarily offers integrated transportation solutions covering loading, transport, port drayage, and unloading. The company primarily transports waste paper, scrap metal, and wooden logs to ports for export. Its client base consists of large waste management companies, recycling centers, and commodity traders.
Toppoint Holdings plans to list on the NYSE American under the symbol TOPP. A.G.P. acted as sole bookrunner on the deal.
