Epsium Enterprise, a Macau-based liquor importer and retailer, announced terms for its IPO on Tuesday. In its latest filing, the company also replaced its sole bookrunner Network 1 Financial with EF Hutton, and disclosed financials for the year ended December 31, 2023.
The company plans to raise $6 million by offering 1 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Epsium Enterprise would command a market value of $78 million.
Through its operating subsidiary Luz, Epsium imports and wholesales beverages in Macau. The company primarily sells alcoholic beverages, although it did also sell a small amount of non-alcoholic tea and fruit juice. The three main alcoholic beverages Epsium sells are Chinese liquors, French cognac, and Scottish whiskey, the three of which account for nearly all of its sales.
Epsium Enterprise was founded in 2010 and booked $29 million in sales for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol EPSM. EF Hutton is the sole bookrunner on the deal.
