Epsium Enterprise, a Macau-based liquor importer and retailer, lowered the proposed deal size for its upcoming IPO on Monday.
The company now plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $5. It had previously filed to offer 1 million shares at a range of $5 to $7. At the midpoint of the revised range, Epsium Enterprise will raise 6% less in proceeds than previously anticipated.
Through its operating subsidiary Luz, Epsium imports and wholesales beverages in Macau. The company primarily sells alcoholic beverages, although it did also sell a small amount of non-alcoholic tea and fruit juice. The three main alcoholic beverages Epsium sells are Chinese liquors, French cognac, and Scottish whiskey, the three of which account for nearly all of its sales.
Epsium Enterprise was founded in 2010 and booked $18 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol EPSM. Benjamin Securities and D. Boral Capital are the joint bookrunners on the deal.
