Papa Medical, which sells branded cannabis vape devices primarily in North American and Europe, filed on Friday with the SEC to raise up to $28 million in an initial public offering.
Papa Medical sells cannabis e-vapor products under the Cannapresso brand. As of September 30, 2024, the company has launched approximately 50 series of e-vapors. It sells its products in North America and Europe, as well as the UAE and elsewhere.
The City of Industry, CA-based company was founded in 2018 and booked $37 million in sales for the 12 months ended September 30, 2024. It plans to list on the Nasdaq under the symbol PAPA. Papa Medical filed confidentially on July 31, 2024. Benjamin Securities, Prime Number Capital, and TFI Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
