Onfolio Holdings, which acquires and manages a portfolio of small websites, filed on Thursday with the SEC to raise up to $17 million in an initial public offering.
The company plans to offer units with warrants attached. Because of this, Onfolio will be excluded from Renaissance Capital's 2022 IPO stats.
Onfolio acquires controlling interests in and actively manages small websites, or those that generate annual cash flows of up to $5 million per year. The company's portfolio currently consists of 18 managed websites, operating in verticals including pets, arts and crafts, B2B SEO services, molecular hydrogen supplements, computers, graphic design, and people search.
The remote-only company was founded in 2019 and booked $2 million in revenue for the 12 months ended March 31, 2022. It plans to list on the Nasdaq under the symbol ONFO. Onfolio Holdings filed confidentially on January 21, 2022. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.
