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Vaping Brand Aspire Global Prepares for U.S. IPO

H cink2021-07-25Views 194Source 未知
A report released by Shenzhen Fuxing Capital and Nasdaq said that Chinese vaping brand Aspire Global is preparing for an initial public offering in the United States with a valuation of $120 million. According to reports, Aspire is drafting the IPO terms
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Shenzhen Renaissance Capital and Nasdaq have released a report stating that the Chinese e-cigarette brand Aspire Global is preparing for an initial public offering (IPO) in the United States, with a valuation of $120 million.<\/span><\/div>
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According to telecommunications reports, Aspire is formulating the terms of the IPO, with a new version expected to be released in the coming weeks. Aspire plans to raise $120 million by issuing 15 million shares at a price of $7 to $9 per share. The midpoint of the proposed range would require a market value of at least $1.3 billion.<\/span><\/div>
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“Aspire is a vertically integrated e-cigarette technology supplier,” Renaissance Capital added. “Its tobacco e-cigarette products are sold through a distribution network consisting of over 150 distributors in 30 countries.” In December 2020, the company also began selling cannabis e-cigarette technology products in the United States.<\/span><\/div>
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Founded in 2010, Aspire reported $82 million in sales for the 12-month period ending December 31, 2020. Nasdaq is expected to be the company's headquarters, with the stock symbol ASPG. Tiger Brokers, EF Hutton, TF International, and China Merchants Securities are the joint bookrunners for the transaction, according to a news statement regarding the IPO.<\/span><\/div>
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In June 2021, Aspire announced it submitted a $161 million application to the federal government’s Wall Street regulator, the U.S. Securities and Exchange Commission (SEC). However, this valuation has since changed.<\/span><\/div>
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After reviewing its product distribution plan, Aspire sells its products in over 21 countries—including the Netherlands, Germany, South Korea, Romania, Poland, the United States, Canada, the United Kingdom, France, Ireland, Spain, and others.<\/span><\/div>
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Aspire is also actively working to comply with the premarket tobacco application (PMTA) regulatory pathway set by the U.S. Food and Drug Administration.<\/span><\/div>
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The company reported: “The FDA aims to regulate all tobacco and new tobacco products sold in the U.S. market to ensure the safety and security of manufacturers and consumers, and to protect public health overall.”<\/span><\/div>