ITASCA,
Ill., March 5, 2025 /PRNewswire/ -- Lakeside
Holding Limited ("Lakeside" or the "Company") (Nasdaq: LSH), a
U.S.-based cross-border supply chain solution provider with a
unique focus on the Asia-Pacific
market operating through two specialized subsidiaries—American Bear
Logistics and Hupan Pharmaceutical (Hubei) Co., Ltd., today announced that it has
entered into a securities purchase agreement with an institutional
investor for the sale of senior secured 7% original issue discount
convertible promissory notes ( "Notes") in the principal amount of
up to $4.5 million, with 40% warrant
coverage, to be drawn in tranches, for gross proceeds of up to
approximately $4.2
million.
The Company plans to use the net proceeds when received from the
offering for working capital purposes. On March 5, 2025, the initial closing of the first
tranche occurred pursuant to which the Company sold a Note in the
principal amount of $1,000,000 and
warrants to 318,827 shares at an exercise price of $1.9098, for total gross proceeds, before
deducting offerings fees and expenses, of $930,000.
About Lakeside Holding Limited
Lakeside Holding Limited is a U.S.-based cross-border supply
chain solution provider with a unique focus on the Asia-Pacific market. Through two specialized
subsidiaries—American Bear Logistics and Hupan Pharmaceutical
(Hubei) Co., Ltd.—Lakeside
delivers tailored logistics solutions spanning general and
specialized sectors.
American Bear Logistics, with strategic hubs in Chicago, Dallas, Los
Angeles, and New York,
offers customized cross-border ocean and airfreight solutions,
connecting Asia-based logistics
service companies and e-commerce platforms with the U.S.
market.
Lakeside recently acquired Hupan Pharmaceutical (Hubei) Co., Ltd., expanding its service scope
and enhancing its pharmaceutical logistics and distribution
capabilities within China. This
strategic move underscores Lakeside's commitment to advancing
integrated cross-border logistics solutions.
For more information, please visit https://lakeside-holding.com.
The Company routinely updates important information on its
website.
Safe Harbor Statement
This press release contains forward-looking statements that
reflect our current expectations and views of future events. Known
and unknown risks, uncertainties and other factors, including those
listed under "Risk Factors," may cause our actual results,
performance or achievements to be materially different from those
expressed or implied by the forward-looking statements. You can
identify some of these forward-looking statements by words or
phrases such as "may," "will," "expect," "anticipate," "aim,"
"estimate," "intend," "plan," "believe," "is/are likely to,"
"potential," "continue" or other similar expressions. We have based
these forward-looking statements largely on our current
expectations and projections about future events that we believe
may affect our financial condition, results of operations, business
strategy and financial needs. These forward-looking statements
involve various risks and uncertainties. Except as required by law,
we undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events. We
qualify all of our forward-looking statements by these cautionary
statements.
Investor Relations Contact:
Matthew
Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email:
matthew@strategic-ir.com
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SOURCE Lakeside Holding Limited
