Toppoint Holdings (TOPP) Closes $10M IPO

Toppoint Holdings Inc. (NYSE: TOPP) today announced the closing of its previously announced initial public offering of an aggregate of 2,500,000 shares of its common stock (the “Shares”) at an offering price of $4.00 per share to the public, for a total of $10,000,000 in gross proceeds to the Company (the “Offering”), before deducting underwriting discounts and estimated offering expenses. The Shares began trading on the NYSE American stock exchange on January 22, 2025, under the ticker symbol "TOPP."

In addition, the Company has granted the underwriter an option, exercisable within 45 days from the date of the final prospectus, to purchase up to an additional 375,000 shares of common stock at the public offering price, representing 15% of the Shares sold in the Offering, less underwriting discounts and commissions, to cover over-allotments.

The net proceeds from the Offering are expected to be used for (i) geographic expansions, (ii) investments in physical and IT infrastructure, (iii) expansion of our sales team and marketing efforts, and (iv) general working capital and other corporate purposes.

The Offering was conducted on a firm commitment basis. A.G.P./Alliance Global Partners (“A.G.P.”) was the sole book-running manager for the Offering. Bevilacqua PLLC acted as legal counsel to the Company and Loeb & Loeb LLP acted as legal counsel to A.G.P. for the Offering.

The Offering was conducted pursuant to the Company’s Registration Statement on Form S-1 (File No. 333-281474) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (“SEC”) on January 21, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement. Electronic copies of the final prospectus relating to the Offering may be obtained for free by visiting EDGAR on the SEC’s Website at www.sec.gov. Alternatively, copies of the prospectus relating to the Offering may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, by phone at +1 (212) 624-2060, or by email at [email protected].

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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