PreTam Holdings, which makes and sells precast concrete products in Chile, announced terms for its IPO on Friday.
The Coquimbo, Chile-based company plans to raise $4 million by offering 0.8 million units at a price range of $4.35 to $6.35. Each unit consists of one share of common stock and one warrant, exercisable at $5.35 (100% of the proposed offer price). At the midpoint of the proposed range, PreTam Holdings would command a market value of $33 million.
Because the company plans to offer units with warrants attached, is expected to raise less than $5 million, and is expected to have a market cap of less than $50 million at pricing, PreTam Holdings will be excluded from Renaissance Capital's IPO 2023 stats.
PreTam develops, manufactures, markets, sells, and installs a broad array of precast concrete products and systems for use primarily in the housing, commercial development, and mining industries. The company operates in the Chilean residential and commercial construction sector.
PreTam Holdings was founded in 2018 and booked $10 million in revenue for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol PFAB. Maxim Group LLC is the sole bookrunner on the deal.
