BrilliA, a provider of women's lingerie and intimate apparel, filed on Thursday with the SEC to raise up to $11 million in an initial public offering. The company plans to offer 2.5 million shares at a range of $4 to $5 per share. At the midpoint of the range, the company would command a fully diluted market cap of $113 million.
BrilliA, which operates primarily as Bra Pro, focuses on designing and marketing lingerie products, including bras, bodysuits, and panties, mainly targeting markets in the United States, Europe, and Canada. As of the fiscal year ending March 31, 2024, the company generated 92% of its sales from brassieres, while bodysuits and panties contributed 5% and 1%, respectively. Key customers include Fruit of the Loom Inc, Hanes Brands Inc, Jockey International, Hennes & Mauritz, Canadelle and Li & Fung.
The Midpoint Orchard, Singapore-based company was founded in 2011 and booked $56 million in sales for the 12 months ended March 31, 2024. It plans to list on the NYSE American under the symbol BRIA. A.G.P. is the sole bookrunner on the deal.
