Quhuo Limited (NASDAQ: QH), a leading tech-enabled workforce operational solution platform in China, announced that it has closed its initial public offering. The initial public offering (“IPO”) resulted in gross proceeds of approximately $37.9 million for the company. The offering was comprised of 3,788,100 American depositary shares (“ADSs”), which included 488,100 additional ADSs pursuant to the full exercise of the over-allotment option granted to the underwriters. Each ADS was sold at the public offering price of $10 and represented one Class A ordinary share; the shares began trading on the NASDAQ Global Market on July 10, 2020, under the ticker symbol “QH.” ROTH Capital Partners acted as joint book-running manager for the offering.
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About Quhuo Limited
Quhuo provides tech-enabled, end-to-end operational solutions to blue-chip, on-demand, consumer-service businesses in industries with significant e-commerce exposure, including food delivery, ride hailing, housekeeping and bike sharing. Quhuo’s platform helps its industry customers mobilize a large team of workers and utilizes a combination of training, performance monitoring and refinement, and incentives to transform them into skilled workers who can follow industry-specific, standardized, highly efficient service procedures. Within the on-demand, consumer-service ecosystem, QH plays a unique and indispensable role as the link between consumer-service businesses and the end consumers to enable the delivery of goods, services and experiences to consumers. For more information, visit the company’s website at www.quhuo.cn.
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