Cardiff Lexington, which is holding company focused on acquiring business primarily in the healthcare sector, announced terms for its IPO on Friday. The company is currently listed on the OTC under the symbol "CDIX." It originally filed in July 2023 but was ineligible for tracking.
The Las Vegas, NV-based company plans to raise $8 million by offering 1.6 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Cardiff Lexington would command a market value of $204 million.
Cardiff Lexington is a holding company focused on acquiring what it believes are undervalued and undercapitalized companies, primarily in the healthcare industry. The company intends to build a portfolio that consists of approximately 80% established profitable niche small to mid-sized healthcare companies, and 20% second stage startups in healthcare. In May 2021, Cardiff acquired Nova Ortho and Spine, which operates a group of regional primary specialty and ancillary care facilities throughout Florida that provide traumatic injury victims with primary care evaluations, interventional pain management, and specialty consultation services. The company also owns a real estate company, Edge View Properties.
Cardiff Lexington was founded in 1986 and booked $12 million in revenue for the 12 months ended December 31, 2023. It plans to list on the NYSE American under the symbol CDIX. Craft Capital Management and R.F. Lafferty & Co. are the joint bookrunners on the deal.
