Warrantee, which provides extended warranties in exchange for marketable consumer data in Japan, filed a new F-1 with the SEC on Friday, withdrawing its most recent prospectus; it had filed in December 2022 to raise $20 million by offering 5 million ADSs at $4. In its new filing, Warrantee also replaced sole bookrunner Network 1 Financial Securities with Prime Number Capital, and disclosed financials for the six months ended September 30, 2022.
The Osaka, Japan-based company plans to raise $11 million by offering 2.8 million ADSs at $4. At the proposed price, Warrantee would command a fully diluted market value of $99 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, 2022. It plans to list on the Nasdaq under the symbol WRNT. Prime Number Capital is the sole bookrunner on the deal.
