Bruush Oral Care, an online retailer of branded electric toothbrushes, announced terms for its IPO on Friday.
The Toronto, Canada-based company plans to raise $15 million by offering 2.5 million units at a price range of $5.20 to $7.20. Each unit consists of one share of common stock and one warrant, exercisable at the IPO price.
Because the company plans to offer units with warrants attached and is expected to have a post-IPO market cap that is less than $50 million, Bruush Oral Care will be excluded from Renaissance Capital's 2022 IPO stats.
Bruush Oral Care is an e-commerce business with a product portfolio that currently consists of a sonic-powered electric toothbrush kit and brush head refills. Its Brüush starter kit includes the Brüush electric toothbrush and related accessories, and brush head refills can be purchased on a subscription basis. Later this calendar year, Bruush plans to launch several new subscription-based consumable oral care products, including toothpaste, mouthwash, dental floss, a whitening pen, as well as an electric toothbrush designed for kids.
Bruush Oral Care was founded in 2018 and booked $3 million in sales for the 12 months ended October 31, 2021. It plans to list on the Nasdaq under the symbol BRSH. Aegis Capital Corp. is the sole bookrunner on the deal.
