Texxon Holding, a Chinese distributor of plastics and chemicals, raised $10 million by offering 1.9 million shares at $5, the high end of the range of $4 to $5. The company offered 0.1 million fewer shares than anticipated. At pricing, Texxon Holding commands a market cap of $110 million.
Through its operating subsidiary Zhejiang Net Plastic Technology Co., Texxon offers over 3,600 plastic and chemical SKUs, aiming to provide a one-stop shop to streamline procurement for its network of 2,213 suppliers and 3,528 customers. It solutions include product search and matching, recommendations, order management and payments, and delivery logistics.
Texxon Holding plans to list on the Nasdaq under the symbol NPT. D. Boral Capital acted as sole bookrunner on the deal.
