Tokyo-based BloomZ (BLMZ) priced its micro-cap IPO at $4.30 – as expected – and sold 1.25 million ordinary shares – the number of shares in the prospectus – to raise $5.38 million on Tuesday night, July 23, 2024. BloomZ shares are expected to start trading Wednesday, July 24, 2024, on the NASDAQ.
Network 1 Financial Securities served as the sole book-runner.
BloomZ said it will use the IPO proceeds to invest in the animation production business and acquire overseas copyrights. The Japanese company said it may also use some of the IPO proceeds for mergers and acquisitions as well as for strengthening its VTuber management business system.
BloomZ is a holding company incorporated in the Cayman Islands, according to the prospectus. Its operating subsidiary, Kabushiki Kaisha BloomZ, also known as BloomZ Japan, is a Japanese audio production, voice action and VTuber management company.
“BloomZ Japan has experienced staff who have worked on audio production for animations and video games for more than 10 years,” the company said. “BloomZ Japan also manages, cultivates and promotes voice actors and VTubers.”
VTubers are virtual YouTubers who use avatars for their onscreen presence.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.
