Kokobots Group, a Chinese provider of intelligent commercial cleaning robots and IoT products, raised the proposed deal size for its upcoming IPO on Friday.
The Shanghai, China-based company now plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5. The company had previously filed to raise $11 million by offering 2.5 million shares at the same range. At the midpoint of the range, Kokobots Group will raise 50% more in proceeds than previously anticipated and command a fully diluted market value of $78 million.
With the revised offering terms, Kokobots will qualify for a US IPO under the Nasdaq's new listing requirements, which include a minimum float of $15 million.
Kokobots Group was founded in 2011 and booked $5 million in sales for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol KOKO. AC Sunshine Securities is the sole bookrunner on the deal.
