CleanCore Solutions, which makes aqueous ozone cleaning products, lowered the proposed deal size for its upcoming IPO on Friday.
The Omaha, NE-based company now plans to raise $5 million by offering 1 million shares at a price range of $4 to $6. The company had previously filed to offer 1.5 million shares at the same range. At the midpoint, CleanCore Solutions will raise 33% less in proceeds than previously anticipated.
If the company raises less than $5 million, CleanCore Solutions will be excluded from Renaissance Capital's 2024 IPO stats.
CleanCore is focused on creating safe, clean spaces that are free from any chemical residue or skin irritants. The company specializes in the development and manufacturing of cleaning products that produce pure aqueous ozone for professional, industrial, or home use. It believes its patented nanobubble technology is highly effective in cleaning, sanitizing, and deodorizing surfaces and high-touch areas.
CleanCore Solutions was founded in 2014 and booked $2 million in revenue for the 12 months ended December 30, 2023. It plans to list on the NYSE American under the symbol ZONE. Boustead Securities is the sole bookrunner on the deal.
