TEN Holdings, which provides event planning and production for virtual, hybrid, and physical events, filed on Friday with the SEC to raise up to $13 million in an initial public offering.
The company filed to offer 2.5 million shares at a price range of $4.00 to $6.00. At the midpoint of the proposed range, TEN Holdings would command a market value of $140 million.
TEN Holdings' parent company is V-Cube, a Japanese corporate communications platform that provides software and services which make it easier for remote workforces to conference and communicate. TEN Holdings focuses primarily on virtual and hybrid event planning and production, and has supported approximately 3,000 events that have collectively attracted roughly 4.5 million attendees to date. The company's flagship product is the Xyvid Pro Platform, which is an internet-based broadcast platform that provides interactive engagement tools that provide online audiences a dynamic and interactive experience.
The Langborne, PA-based company was founded in 2011 and booked $4 million in sales for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol XHLD. Bancroft Capital is the sole bookrunner on the deal. No pricing terms were disclosed.
