Scripps Safe, which provides vaults and safes for narcotics storage, filed on Thursday with the SEC to raise up to $15 million in an initial public offering.
The Naples, FL-based company plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Scripps Safe would command a market value of $55 million.
Scripps Safe plans to focus on three major verticals: mobile pharmaceutical delivery including fire-EMS; private ambulance operations and home healthcare delivery; and addiction or medication treatment facilities. To date, the company has financed operations primarily through the sales of vaults and safes, among other means, and currently has over 600 healthcare clients who have purchased DEA-compliant vaults and safes.
Scripps Safe was founded in 2012 and booked $1 million in sales for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol SCRP. WestPark Capital is the sole bookrunner on the deal.
