Singapore-based Boustead Wavefront files and sets terms for a $15 million US IPO

Boustead Wavefront, a Singapore-based boutique investment bank providing market entry and advisory services, filed on Thursday with the SEC to raise up to $15 million in an initial public offering.

The company plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Boustead Wavefront would command a market cap of $55 million.

Boustead Wavefront currently provides market entry and product development advisory services. It also has a portfolio of direct strategic investments in pre-IPO offerings where its affiliate Boustead Securities had been engaged as the underwriter. The company expects to expand into corporate finance advisory, and IPO origination and execution for Nasdaq and NYSE listings for Asia-based, high-growth, high-intellectual property content companies. 

The Singapore-based company was founded in 2006 and booked $1 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol BOUW. Boustead Wavefront filed confidentially on March 22, 2022. Revere Securities is the sole bookrunner on the deal.