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Lifestyle brand developer MGO Global files and sets terms for an $8 million IPO

November 18, 2022

MGO Global, which is building a portfolio of lifestyle brands led by Lionel Messi's Messi Brand, filed on Friday with the SEC to raise up to $8 million in an initial public offering.

The Fort Lauderdale, FL-based company plans to raise $8 million by offering 1.5 million shares at $5. At the midpoint of the proposed range, MGO Global would command a fully diluted market value of $69 million.

Anchored by its end-to-end, scalable brand development platform, MGO Global signed a global licensing agreement in October 2018, which was later replaced by the Messi License with pro soccer player Lionel Messi, to spearhead the creation of "The Messi Brand." The Messi Brand is a premium line of casual wear, accessories, and home décor, and its design team is led by MGO co-founder and Chief Design Officer Virginia Hilfiger. The Messi Brand currently represents the first and only asset in MGO Global's portfolio.

MGO Global was founded in 2018 and booked $1 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol MGOL. The company filed confidentially on August 3, 2022. Boustead Securities and Sutter Securities are the joint bookrunners on the deal.