Slinger Bag, which makes a portable tennis ball launcher, filed on Monday with the SEC to raise up to $25 million. The company is currently listed on the OTCQB (SLBG).
Slinger Bag is focused on the ball sport market globally. The company has developed and patented the Slinger Launcher, a portable ball launcher built into an easy-to-transport wheeled tennis bag. While its initial brand focus is on tennis, the company is developing similar launchers to address other forms of tennis around the globe including Pickleball (US), Soft Tennis (Japan), and Paddle Tennis (International markets), all of which are currently in either development or testing and planned for introduction in 2022. In future years, Slinger Bag plans to enter new ball sport markets such as baseball, softball, cricket, badminton, and others.
The Windsor Mill, MD-based company was founded in 2015 and booked $11 million in sales for the 12 months ended April 30, 2021. It plans to list on the Nasdaq but has not selected a symbol yet (RC ticker: SLBG.RC). Spartan Securities and Revere Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
