Harden Technologies, Inc. (HAHA) to Raise $6 Million in IPO

Harden Technologies, Inc. (HAHA) expects to raise $6 million in an initial public offering (IPO) on the week of April 8th, IPO Scoop reports. The company will be issuing 1,000,000 shares at a price of $5.00-$7.00 per share.

In the last 12 months, Harden Technologies, Inc. generated $29.6 million in revenue and $1.7 million in net income. The company has a market-cap of $66 million.

U.S. Tiger Securities served as the underwriter for the IPO.

Harden Technologies, Inc. provided the following description of their company for its IPO: “(Note: Harden Technologies, Inc. cut its IPO’s size to 1.0 million shares – down from 2.5 million shares – and kept the price range at $5.00 to $7.00 – to raise $6.0 million, according to an F-1/A filing on Feb. 1, 2024. Harden Technologies also disclosed in that Feb. 1, 2024, filing that it has changed its proposed stock symbol to “HAHA” – replacing the original proposed symbol of “HARD” – and it has changed its exchange venue to list its stock on the CBOE BZX – a move away from the NASDAQ. Background: The British Virgin Islands-incorporate holding company filed to go public a little more than a year ago – on Feb. 14, 2023. The underlying industrial subsidiary in in China: That company is a manufacturer of industrial shredders and other material-sorting machines for waste management and material recycling.) We make industrial shredders and material-sorting machines for waste management and material recycling industries. In 2021, we served 212 customers in the industrial, municipal and solid waste disposal sectors. (Incorporated in the British Virgin Islands)  **Note: The BVI-incorporated holding company will issue the shares in the IPO – and not the underlying industrial company in China, the prospectus says. We were founded on May 10, 2010, by our chairman of the board of directors, director and chief executive officer, Mr. Jiawen Miao. We are located in Zhongshan City in China’s Guangdong Province. We currently employ 237 people on a full time basis — 20 people in management positions; 31 in sales and marketing positions; 29 in research and development positions; 35 people in technical engineering positions; 26 in after-sale service positions and 96 in manufacturing and installation positions. According to Grand View Research, an international market research company, the global industrial recycling equipment market size was estimated at $852 million in 2019 and is anticipated to reach $1.3 billion by 2027, expanding at a compound annual growth rate (“CAGR”) of 5.8%. The Asia Pacific region’s market is forecast to exceed $450 million by 2025, with China as a major revenue earner. We expect growing awareness pertaining to the economic and environmental benefits of recycled processed materials to significantly impact our market. In addition, we expect growing concerns over the increasing carbon footprint along with rising government efforts in numerous countries in order to promote recycling of material to create significant opportunities for manufacturers. Industrial recycling equipment plays a significant role in this process. Scrap materials including discarded electrical and electronic goods, automobile parts, paper, and construction materials are collected from numerous sources for further processing. Industrial recycling equipment, including baler presses, granulators, shredders, and shears are then used to reduce the shape and size of the waste materials, which are further used for recycling. Due to the increasing awareness towards the sustainable advantages and benefits of reusing and recycling waste materials, we believe the end-use utilization of recycled materials will further benefit the industry. We anticipate that recycled material such as steel, iron, plastic, rubber, and concrete in the industries including automotive, electrical and electronics, building and construction, and packaging will drive the market. *Note: Net income and revenue are for the 12 months that ended June 30, 2023. (Note: Harden Technologies, Inc. cut its IPO’s size to 1.0 million shares – down from 2.5 million shares – and kept the price range at $5.00 to $7.00 – to raise $6.0 million, according to an F-1/A filing on Feb. 1, 2024. In that Feb.1, 2024, filing, Harden Technologies disclosed that it has changed its exchange venue to list its stock on the CBOE BZX – a move away from the NASDAQ. Background: Harden Technologies, Inc. filed its F-1/A and disclosed terms for its IPO on Feb. 14, 2023: 2.5 million shares at $5.00 to $7.00 to raise $15.0 million. The Chinese company submitted confidential IPO documents on Aug. 4, 2021.) “.

Harden Technologies, Inc. was founded in 2010 and has 237 employees. The company is located at Building 8, No. 6 Jingye Road Torch Development Zone Zhongshan City PR China 528400 and can be reached via phone at 86-760-89935422.