Huachen AI Closes $6 Million IPO with D. Boral Capital as Joint Bookrunner

Huachen AI Parking Management Technology Holding Co., Ltd, a provider of smart parking solutions in China, finalized its $6.0 million initial public offering (IPO) on February 6, 2025. Trading under the ticker symbol "HCAI" on the Nasdaq Capital Market, the offering involved 1,500,000 ordinary shares at $4.00 each. D. Boral Capital LLC, alongside Benjamin Securities, acted as joint bookrunners for the deal.

The company plans to utilize the net proceeds for strategic initiatives, such as acquiring managerial and operational rights to a new parking lot, development of new automated guided vehicles, and expanding its technical team. An option to purchase up to an additional 225,000 shares remains viable for underwriters.

Legal counsel for Huachen was provided by Ortoli Rosenstadt LLP, while Sichenzia Ross Ference Carmel LLP represented the underwriters. The registration statement for this offering was declared effective by the SEC on February 4, 2025.