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Asian food retailer Maison Solutions (MSS) has filed to raise $12M through an initial public offering.
The California-based grocer said in a filing that it plans to offer 3M shares priced at $4 per share. Underwriters would be granted a 45-day option to buy up to 450K additional shares.
Maison Solutions hopes to list its shares on Nasdaq under the symbol MSS. Joseph Stone Capital is serving as lead bookrunner.
The company has been operating in the black. For the nine-month period ended Jan. 31, it reported net income of $1.2M on revenue of $41M.
Maison Solutions plans to use a portion of the IPO proceeds to pay down debt, according to the filing.
More on IPOs:
Hong Kong brokerage Solowin sets terms for proposed $15M US IPO
China’s Lemeng upsizes proposed US IPO to $20M, sets terms
Cancer test developer Advanced Biomed files for proposed $150M IPO
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