Huachen AI Parking Management Technology Holding Co., Ltd Announces Full Exercise of Underwriters’ Over-Allotment Option

JIAXING, CHINA, March 11, 2025 (GLOBE NEWSWIRE) -- Huachen AI Parking Management Technology Holding Co., Ltd (the “Company”) (NASDAQ: HCAI), a comprehensive smart parking solutions and equipment structural parts provider with all operations through the operating subsidiaries in China, today announced that the underwriters of its initial public offering (the “Offering”) have fully exercised their over-allotment option to purchase an additional 225,000 ordinary shares at the public offering price of US$4.00 per share, resulting in additional gross proceeds of $900,000. After giving effect to the full exercise of the over-allotment option, the total number of ordinary shares sold by the Company in the public offering increased to 1,725,000 ordinary shares, and the gross proceeds increased to approximately US$6.9 million before deducting underwriter discounts and other related expenses. The option closing date was March 11, 2025. The ordinary shares began trading on the Nasdaq Capital Market on February 5, 2025 under the ticker symbol “HCAI.”