Hour Loop, an online retailer selling various household goods primarily on Amazon, revised the terms for its upcoming IPO on Thursday.
The Redmond, WA-based company now plans to raise $6 million by offering 1.5 million shares at a price of $4. The company had previously filed to offer 2 million shares at a price of $3. At the revised terms, Hour Loop will raise the same amount of proceeds and would command a market value of $139 million (+0% vs. original terms).
Hour Loop operates primarily as a third-party seller on Amazon.com, selling items within home/garden decor, kitchenware, apparel, and electronics. In total, the company manages more than 100k SKUs.
The company was founded in 2013 and booked $53 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol HOUR. EF Hutton is the sole bookrunner on the deal.
