AgiiPlus, a Chinese workspace provider, filed on Friday with the SEC to raise up to $40 million in an initial public offering.
AgiiPlus had previously planned to go public in the US via SPAC Goldenbridge Acquisition (GBRG) at a $578 million enterprise value, but mutually agreed to terminate the merger agreement this past May.
AgiiPlus has established a network of workspaces in China and Singapore. Through its PRC subsidiary Shanghai Distrii Technology Development, the company offers enterprise customers flexible and cost-effective space solutions in centrally located business districts in tier-one and new tier-one cities in China and Singapore. As of December 31, 2021, AgiiPlus maintained a network of 61 Distrii workspaces across seven different cities, with a total managed area of approximately 2.8 million square feet and 41,455 total workstations.
The Shanghai, China-based company was founded in 2016 and booked $72 million in sales for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol AGII. Tiger Brokers is the sole bookrunner on the deal. No pricing terms were disclosed.
