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Japanese investment research firm Warrantee (WRNT) has filed a new F-1 filing with the SEC for an initial $20M US funding round raised.
Warrantee said it is resubmitting the project to reflect the 2-to-1 split that occurred on Nov. 29. The Company now intends to issue 5M American Depositary Shares at $4 per ADS, which would raise $20M.
The underwriters are given a 45-day option to purchase up to 750K additional ADSs at the share price. Network 1 Financial Securities is acting as the lead bookmaker.
The company has been operating in the red. For the year ended March 31, 2022, Warrantee reported a net loss of $800K on revenue of $2M.
Based in Osaka, Japan, Warrantee provides consumers with extended warranties in exchange for user data.
In June, Warrantee filed to raise $15M through a US IPO.
