Warrantee, which provides extended warranties in exchange for marketable consumer data in Japan, raised $10 million by offering 2.4 million ADSs at $4, as expected. The company offered 0.4 million fewer ADSs than anticipated.
Warrantee is a Japanese marketing and market research technology company that provides corporate sponsors' potential customers with extended warranty coverage on durables or certain healthcare benefits sponsored by sponsors. Under the sponsored product insurance model, Warrantee provides product insurance in the form of a limited extended warranty for appliances to users participating in the company's marketing campaigns, in exchange for their personal, purchase, or other data needed by Warrantee's corporate sponsors, in return for a sponsorship fee.
Warrantee plans to list on the Nasdaq under the symbol WRNT. Prime Number Capital acted as sole bookrunner on the deal.
