Medirom Healthcare Technologies, a Japanese operator of relaxation salons developing a digital health service, lowered the proposed deal size for its upcoming IPO on Thursday.
The Tokyo, Japan-based company now plans to raise $17 million by offering 1.1 million ADSs at a price range of $14 to $16. The company had previously filed to offer 1.2 million ADSs at the same range. At the revised deal size, Medirom Healthcare Technologies will raise -6% less in proceeds than previously anticipated.
Medirom Healthcare Technologies was founded in 2000 and booked $31 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol MRM. Maxim Group LLC is the sole bookrunner on the deal.
