Asset Entities, which provides Gen Z-focused digital investment education and entertainment services, set the proposed price for its upcoming IPO on Tuesday.
The Dallas, TX-based company now plans to raise $8 million by offering 1.5 million shares at a price of $5. The company had previously filed to offer the same number of shares at a range of $4 to $6. At the proposed price, Asset Entities will raise the same amount of proceeds and command a market value of $61 million.
Asset Entities provides social media marketing and content delivery services across social media platforms. The company's business includes designing, developing, and managing servers for communities on Discord, offering Discord investment education and entertainment services, and other social media and marketing services on platforms such as TikTok, Twitter, Instagram, and YouTube.
Asset Entities was founded in 2020 and booked $1 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol ASST. Boustead Securities is the sole bookrunner on the deal.
