BAO Holding, a Hong Kong-based provider of software development services, refiled on Friday with the SEC to raise up to $17 million in an initial public offering.
The company initially filed its F-1 and set terms in August 2025. Bao Holding withdrew its F-1 in December 2025.
BAO Holding now plans to raise $17 million by offering 3.8 million shares at a proposed range of $4 to $5. At the proposed deal size, the company would command a market cap of $91 million (+12.5% versus previous terms).
BAO Holding is an IT solutions provider specializing in leveraging analytics and programming to deliver customized software development and technology solutions. The company offers deployment and integration of sensors, controls, and other hardware, such as smart displays, kiosks, lockers, and vending machines, to deliver autonomous or semi-autonomous solutions.
The Hong Kong, China-based company was founded in 2018 and plans to list on the Nasdaq under the symbol BAO. BAO Holding filed confidentially on December 20, 2024. Pacific Century Securities and Revere Securities are the joint bookrunners on the deal.
