logo
Plus   Neg
Share
Email

MEDIROM Healthcare Prices IPO Of 800,000 ADSs At $15.00/ADS

MEDIROM Healthcare Technologies Inc. (MRM) said that it has priced its initial public offering of 800,000 American Depositary Shares at a price of US$15.00 per ADS. Each ADS represents one common share of MEDIROM.

The ADSs are expected to begin trading on the Nasdaq Capital Market on December 29, 2020, under the symbol "MRM."

The company expects that gross proceeds before deducting underwriting discounts and commissions and other offering expenses expected to be US$12.0 million.

The closing of the offering is expected to occur on December 31, 2020.

In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 120,000 ADSs at the public offering price, less underwriting discounts and commissions to cover over-allotments, if any.

The company said it plans to use the net proceeds from the offering for working capital and general corporate purposes, which may include investments, acquisition or strategic collaborations to expand its customer base as well as develop and market new services.

For comments and feedback contact: editorial@rttnews.com

Business News

RELATED NEWS
Follow RTT