Warrantee, which provides extended warranties in exchange for marketable consumer data in Japan, filed a new F-1 with the SEC on Tuesday. It had previously filed in June 2022. In its new filing, the company also disclosed financials for the fiscal year ended March 31, 2022, and disclosed the completion of a 2-for-1 split.
The Osaka, Japan-based company plans to raise $20 million by offering 5 million ADSs at $4. At the proposed price, Warrantee would command a fully diluted market value of $107 million.
The company had previously filed to raise $15 million by offering 2.1 million ADSs at a range of $6 to $8, or 4.2 million ADSs at a range of $3 to $4 on a split-adjusted basis.
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 March 31, 2022. It plans to list on the Nasdaq under the symbol WRNT. Network 1 Financial Securities is the sole bookrunner on the deal.
