HomesToLife, a home furnishings retailer with six locations in Singapore, filed on Thursday with the SEC to raise up to $6 million in an initial public offering.
The Singapore, Singapore-based company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, HomesToLife would command a market cap of $73 million, and an enterprise value of $67 million.
Originally involved in the leather trading business, founder-owned HomesToLife shifted to the furniture business in 2014, and now sells leather and fabric upholstered sofas as well as case goods (e.g. coffee tables, dining table, bedding) and accessories through six retail locations under its own brand as well as select third-party brands. Going forward, the company plans to expand both in Singapore and other APAC countries.
The Singapore-based company was founded in 1989 and booked $5 million in sales for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol HTLM. HomesToLife filed confidentially on May 31, 2024. Tiger Brokers is the sole bookrunner on the deal.
