PishPosh, an online baby product retailer, filed on Friday with the SEC to raise up to $8 million in an initial public offering.
The Lakewood, NJ-based company plans to raise $8 million by offering 1.7 million shares at $5. At the proposed price, PishPosh would command a fully diluted market value of $55 million.
PishPosh is an online retailer of baby products, focusing on mid- to higher-income demographics. The company showcases and sells its products through its website, third party marketplaces, and its on-site boutique. PishPosh generates a majority of its current sales from strollers, stroller accessories, and car seats, but intends to diversify its revenue base by expanding into new categories like baby health and safety and nursery. Its growth strategy also includes manufacturing its own branded products.
PishPosh was founded in 2015 and booked $19 million in sales for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol BABY. The company filed confidentially on May 13, 2022. Boustead Securities is the sole bookrunner on the deal.
