Harden Technologies, a Chinese manufacturer of industrial shredders and other equipment, lowered the proposed deal size for its upcoming IPO on Thursday. In its latest filing, the company also changed its proposed ticker, and changed its proposed listing exchange from the Nasdaq to the Cboe BZX.
The Zhongshan, China-based company now plans to raise $6 million by offering 1 million shares at a price range of $5 to $7. The company had previously filed to offer 2.5 million shares at the same range. At the midpoint, Harden Technologies will raise 60% less in proceeds than previously anticipated.
Harden is a waste management equipment and recycling equipment manufacturer in China, specializing in the manufacture of customized industrial shredders and material sorting machines and production lines. In the 1H23, Harden supplied its products to an aggregate of 128 customers operating in the industrial, municipal, and solid waste disposal industries.
Harden Technologies was founded in 2010 and booked $30 million in revenue for the 12 months ended June 30, 2023. It plans to list on the BZX under the symbol HAHA. Tiger Brokers is the sole bookrunner on the deal.
