Earntz Healthcare Products, a Chinese manufacturer of nonwoven fabrics and non-surgical face masks, filed on Wednesday with the SEC to raise up to $11 million in an initial public offering.
The Shanghai, China-based company plans to raise $11 million by offering 2.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Earntz Healthcare Products would command a market value of $90 million.
Through its operating VIE Shanghai Earntz, the company manufactures and sells nonwoven fabrics and related products, primarily disposable non-surgical face masks. It is also in the process of developing sanitary products, including adult diapers and feminine hygiene pads. The company's products are mainly used in healthcare and related industries in China.
Earntz Healthcare Products was founded in 2016 and booked $11 million in sales for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol ETZ. The company filed confidentially on September 20, 2021. Network 1 Financial Securities is the sole bookrunner on the deal.
