Charming Medical, which operates four wellness centers in Hong Kong focused on traditional Chinese medicine, raised $6 million by offering 1.6 million shares at $4, the low end of the range of $4 to $6. At pricing, the company commands a market cap of $68 million.
Operating under the Beauty Lab brand, the company provides Traditional Chinese Medicine (TCM)-inspired therapies and products, offering a wide range of beauty, wellness, and postpartum services and products through its four wellness centers in Hong Kong. The company also offers TCM-inspired therapies tailored to men.
Charming Medical plans to list on the Nasdaq under the symbol MCTA. Cathay Securities acted as sole bookrunner on the deal.
