Company: HFFG
Filing Date: 2025-09-25
Form Type: 424B5
Source: 0001680873-25-000057
Chunk: 7

Company: HF Foods Group Inc.
Filing Date: 2025-09-25
Form: 424B5
Chunk 7
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 part of your investment decision to assess whether the net proceeds are being used appropriately. Because of the number and variability of factors that will determine our use of the net proceeds from this offering, their ultimate use may vary substantially from their currently intended use. Our management might not apply our net proceeds in ways that ultimately increase the value of your investment. Our failure to apply these funds effectively could have a material adverse effect on our business and cause the price of our common stock to decline.

If you purchase shares of our common stock sold in this offering, you may experience immediate and substantial dilution in the net tangible book value of your shares.

The price per share of our common stock being offered may be higher than the net tangible book value per share of our outstanding common stock prior to this offering. Assuming that an aggregate of 29,498,525 shares of our common stock are sold at an assumed offering price of $3.39 per share, the last reported sale price of our common stock on Nasdaq on September 24, 2025, for aggregate gross proceeds of approximately $100,000,000, and after deducting commissions and estimated offering expenses payable by us, new investors in this offering will incur immediate dilution of $1.69 per share, based on shares outstanding and our net tangible book value as of June 30, 2025. For a more detailed discussion of the foregoing, see the section entitled “Dilution” below. To the extent that any time-based restricted stock units or performance-based restricted stock units vest and are settled, any new equity awards are issued under the HF Foods Group Inc. 2018 Omnibus Equity Incentive Plan, or we otherwise issue additional shares of common stock in the future (including shares issued in connection with strategic and other transactions), there will be further dilution to new investors.

You may experience dilution if we issue additional equity securities in future fundraising transactions.

To raise additional capital, we may in the future offer additional shares of our common stock or other securities convertible into or exchangeable for our common stock at prices that may not be the same as the price per share in this offering. We may sell shares or other securities in any other offering at a price per share that is less than the price per share paid by investors in this offering, and investors purchasing shares or other securities in the future could have rights superior to existing stockholders. The price per share at which we sell additional shares of our common stock, or securities convertible or exchangeable into common stock, in future transactions