Thoughtful Media Group, a south East Asia-focused influencer advertising platform spun out of Society Pass, raised the proposed deal size for its upcoming IPO on Tuesday.
The Bangkok City, Thailand-based company now plans to raise $9 million by offering 2 million shares at a price range of $4 to $5. The company had previously filed to offer 1.3 million shares at a range of $4 to $5. At the midpoint of the revised range, Thoughtful Media Group will raise 60% more in proceeds than previously anticipated and command a fully diluted market value of $81 million.
Thoughtful Media Group connects advertisers, brands, and merchants with over 10,000 influencers to targeted audiences across Thailand, Vietnam, Indonesia, and the Philippines. Its services focus on multi-channel networks, premium advertising, social commerce, sports marketing, including e-sports marketing, content (e.g. podcasts, movies) production and distribution, and music entertainment verticals.
Thoughtful Media Group was founded in 2010 and booked $7 million in sales for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol TMGX. Cathay Securities and Bancroft Capital are the joint bookrunners on the deal.
