Renaissance Capital logo

Japanese tech firm HeartCore Enterprises prices US IPO at $5, the midpoint of the lowered range

February 9, 2022
HeartCore Enterprises logo

HeartCore Enterprises, which provides businesses with customer experience software and IT services in Japan, raised $15 million by offering 3.0 million shares at $5, the midpoint of the revised $4 to $6 range. The company originally filed to raise the same amount by selling 2.5 million shares at a range of $5 to $7 in early January, before lowering the range a few weeks later. 

HeartCore provides software through two business units: customer experience management and digital transformation. Its customer experience management (CXM) platform includes marketing, sales, service, and content management systems. Its digital transformation business provides customers with robotics process automation, process mining, and task mining. As of September 30, 2021, HeartCore's combined business units had 562 paying customers, nearly all of which were located in Japan.

HeartCore Enterprises plans to list on the Nasdaq under the symbol HTCR. Boustead Securities acted as sole bookrunner on the deal.