SFIDA X, a Japan-based provider of website design, development, and other IT services, announced terms for its IPO on Monday.
The company plans to raise $6 million by offering 1 million shares at a price range of $5 to $6. At the midpoint of the proposed range, SFIDA X would command a fully diluted market value of $43 million.
Because it is expected to have a market cap of less than $50 million at pricing, SFIDA X will be excluded from Renaissance Capital's IPO stats.
SFIDA X was founded in 2009 and booked $33 million in revenue for the 12 months ended September 30, 2024. It plans to list on the Nasdaq under the symbol SFDX. ThinkEquity is the sole bookrunner on the deal.
