Papa Medical, which sells branded cannabis vape devices primarily in North American and Europe, raised the proposed deal size for its upcoming IPO on Friday.
The City of Industry, CA-based company now plans to raise $15 million by offering 3.8 million shares at a price of $4. The company had originally filed to raise 1.3 million shares at the same price, before withdrawing the offer and refiling to increase their offering to 1.5 million shares.
Papa Medical sells cannabis e-vapor products under the Cannapresso brand. As of September 30, 2025, the company has launched approximately 70 series of e-vapors.
Papa Medical was founded in 2018 and booked $50 million in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol PAPA. Kingswood Capital Markets is the sole bookrunner on the deal.
