SOS Hydration, which makes low-sugar electrolyte drinks, revised the terms for its upcoming IPO on Wednesday. The company originally filed in January 2022 but was ineligible for tracking by Renaissance Capital because it planned to offer warrants.
The Boulder, CO-based company now plans to raise $8 million by offering 1.6 million shares at a price range of $4 to $6. The company had most recently filed to offer 1.6 million units at a range of $4.50 to $6.50. At the midpoint of the revised range, SOS Hydration will raise 9% less in proceeds than previously anticipated.
SOS Hydration provides electrolyte-enhanced products, with a proprietary formulation focused on low sugar content and fast electrolyte absorption. The company offers its products in powder form in five flavors and ready-to-drink bottles in three flavors, which are distributed across the US and UK through a network of retailers in the food, drug, mass, natural, and e-commerce channels.
SOS Hydration was founded in 2013 and booked $3 million in sales for the 12 months ended December 31, 2022. It plans to list on the Nasdaq under the symbol SOSH. The company has not named a bookrunner yet.
