Prestige Wealth, Innovation Beverage, Scripps Safe slash IPO sizes
hanibaram
Prestige Wealth, Innovation Beverage and Scripps Safe have all downsized their proposed IPOs by at least 39%.
Hong Kong-based asset management firm Prestige Wealth (PWM) said in a filing that it's now looking to offer 1M shares priced between $5 and $6M, which would raise around $5.5M if priced at the midpoint. In February, the firm said it planned to raise around $9M by offering 2M shares priced between $4 and $5.
Innovation Beverage (NASDAQ:IBG), an Australian-based distiller, has cut its proposed IPO by 46% to $5.6M from $10.4M. The company is now considering offering 1.4M shares at $4, down from its prior proposal of 2.5M shares at $4.15.
Innovation Beverage added that selling shareholders may be offering an additional 1.3M shares, according to the filing.
Scripps Safe (SCRP), which makes DEA-compliant vaults for storing pharmaceuticals, slashed its proposed IPO by 60%. Scripps said it is now looking at offering 1.2M shares priced between $4 and $6, which would raise $6M if priced at the midpoint. In December, Scripps said it was seeking to raise around $15M.