Lakeside Holding Ltd. (LSH) Plans to Raise $6 Million in June 27th IPO

Lakeside Holding Ltd. (LSH) plans to raise $6 million in an IPO on Thursday, June 27th, IPO Scoop reports. The company will issue 1,300,000 shares at a price of $4.50-$5.00 per share.

In the last year, Lakeside Holding Ltd. generated $17.6 million in revenue and $240,000 in net income. Lakeside Holding Ltd. has a market-cap of $34.4 million.

The Benchmark Company and Axiom Capital Management acted as the underwriters for the IPO.

Lakeside Holding Ltd. provided the following description of their company for its IPO: ” We aspire to become a U.S.–backed cross-border supply chain corridor that connects Asia and North America with efficiency, reliability, and affordability. (Incorporated in Nevada) We are a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market including China and South Korea. We primarily provide customized cross-border ocean freight solutions and airfreight solutions in the U.S. that specifically cater to our customers’ requirements and needs in transporting goods into the U.S. We offer a wide variety of integrated services under our cross-border ocean freight solutions and cross-border airfreight solutions, including (i) cross-border freight consolidation and forwarding services, (ii) customs clearance services, (iii) warehousing and distribution services and (iv) U.S. domestic ground transportation services. Founded in Chicago, Illinois, in 2018, as American Bear Logistics Corp., we are an Asian American-owned business rooted in the U.S. with in-depth understanding of both the U.S. and Asian international trading and logistics service markets. Our customers are typically Asia- and U.S.-based logistics service companies serving large e-commerce platforms, social commerce platforms and manufacturers to sell and transport consumer and industrial goods made in Asia into the U.S. Since inception and as of March 31, 2024, we had served over 300 customers to fulfill over 37,000 cross-border supply chain solution orders. We have established an extensive collaboration network of service providers, including global freight carriers for our cross-border freight consolidation and forwarding services as well as domestic ground transportation carriers for our U.S. domestic transportation services. Since inception and as of March 31, 2024, we had collaborated with almost all major global ocean and air carriers to forward over 29,800 twenty-foot equivalent unit, or TEU, of container loads and 41,800 tons of air cargo. As of March 31, 2024, we had also cooperated with over 200 domestic ground transportation carriers, including almost all major U.S. domestic ground transportation carriers, on a long-term, short-term or order basis, as the case may be. We operate two massive and hyper-busy regional warehousing and distribution centers in the U.S., in Illinois and Texas. With an aggregate gross feet area of approximately 75,014 square feet and 34 docks, our regional warehousing and distribution centers have an aggregate daily floor load of up to 3,000 cubic meters of freight. In addition to our regional centers, we maintain close contact with over 150 warehouses and distribution terminals in almost all transportation hubs in the U.S. which we have cooperated in the past to support the warehousing and distributing services of our cross-border freight in case such freight requires storage, fulfilment, transloading, palletizing, packaging or distribution in states other than Illinois and Texas. Further, we collaborate with licensed customs brokerage experts to help our customers clear shipments importing into the U.S. As of March 31, 2024, we had assisted with the customs clearance of cross-border freight of an aggregate assessed value of over $34.4 million. Leveraging our strong cross-border supply chain service capabilities, extensive service provider network of cross-border freight carriers and U.S. domestic ground transportation carriers, massive and hyper-busy regional warehousing and distribution centers as well as deep understanding of the Asian markets, we have been able to build up our brand and reputation and have achieved fast growth since our inception. Note: As of March 31, 2024, we had fulfilled over 37,000 cross-border supply chain solution orders for freight of an aggregate assessed value of $1.0 billion, delivered to thousands of business and residential addresses in approximately 48 U.S. states. Note: Henry Liu is our co-founder. He has served as our chairman of the board of directors and chief executive officer since our establishment. Mr. Liu has over six years of logistics operation experience, especially in freight forwarding, and he has extensive knowledge of the supply chain industry. Mr. Liu has served as the president of American Bear Logistics Corp., our Illinois operating subsidiary, from February 2018 to the present. He co-leads its operations, client relationships and business development with Mr. Shuai Li. From August 2017 to February 2018, Mr. Liu served as an operator in Hoson Logistics America Inc., an Illinois-based logistics company, where he took charge of import and export of air and ocean freight. Mr. Liu received his bachelor’s degree in bioengineering from Northwest Agriculture and Forestry University in China in June 2013 and his master’s degree in food safety and technology from the Illinois Institute of Technology in December 2015. We believe that Mr. Liu’s extensive knowledge of our Company, gained through his services as our co-founder and chief executive officer, and his experience in the supply chain industry, qualify him to serve as the chairman of our board of directors. Note: Net income and revenue are for the 12 months that ended March 31, 2024. (Note: Lakeside Holding Limited filed its S-1 on April 1, 2024. The company submitted its confidential IPO documents to the SEC on Oct. 30, 2023.)   “.

Lakeside Holding Ltd. was founded in 2018 and has 49 employees. The company is located at 1475 Thorndale Avenue, Suite A Itasca, Illinois 60143 and can be reached via phone at (224) 446-9048 or on the web at http://www.americanbearlogistics.com/.

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