Yoshitsu Co., a Japanese retailer and wholesaler of beauty, health, and other products, announced that it raised $24 million by offering 6.0 million ADSs at $4, the low end of the range of $4 to $6. At pricing, the company commands a market value of $144 million.
According to a press release, the company plans to make a separate announcement regarding the commencement of trading on the Nasdaq, once a trading date is finalized.
Yoshitsu primarily sells Japanese beauty and health products in China, Japan, and other overseas markets including the US and Canada. Its distribution channels include 22 online stores and various e-commerce marketplaces, franchised stores and wholesale customers, and directly-operated physical stores under the name Tokyo Lifestyle.
Yoshitsu Co. plans to list on the Nasdaq under the symbol TKLF. Univest Securities acted as sole bookrunner on the deal.
