Warrantee, a Japan-based marketing and insurance services provider, filed on Friday with the SEC to raise up to $15 million in an initial public offering.
The Osaka, Japan-based company plans to raise $15 million by offering 2.1 million ADSs at a price range of $6 to $8. At the midpoint of the proposed range, Warrantee would command a market cap of $91 million.
Warrantee is a Japanese marketing and market research technology company that provides corporate sponsors' potential customers with extended warranty coverage on durables or certain healthcare benefits sponsored by sponsors. Under the sponsored product insurance model, Warrantee provides product insurance in the form of a limited extended warranty for appliances to users participating in the company's marketing campaigns, in exchange for their personal, purchase, or other data needed by Warrantee's corporate sponsors, in return for a sponsorship fee.
Warrantee was founded in 2013 and booked $2 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol WRNT. Warrantee filed confidentially on February 7, 2022. Network 1 Financial Securities is the sole bookrunner on the deal.
