Marwynn Holdings, which distributes home improvement products and consumables in the US, raised $8 million by offering 2.0 million shares at $4, the low end of the range of $4 to $5. At pricing, the Irvine, CA-based company commands a market value of $68 million.
Operating through subsidiaries Grand Forest Cabinetry and FuAn Enterprise, Marwynn mainly distributes indoor home improvement products in the US. Grand Forest provides kitchen cabinets, flooring, and home improvement products sourced from international suppliers to customers primarily in the San Francisco Bay Area. The company is working to expand throughout California and across the US. FuAn connects businesses in different regions, particularly Asia and the US, sourcing and distributing Asian food, snacks, and non-alcoholic beverages to mainstream markets, grocery stores, and wholesale/warehouse clubs.
Marwynn Holdings plans to list on the Nasdaq under the symbol MWYN. American Trust Investment Services acted as sole bookrunner on the deal.
