Japanese Audio Production Company, BloomZ, to Sell 1.25 Million Shares in IPO

Japanese audio production company, BloomZ, has announced its plans to sell 1.25 million shares in its initial public offering (IPO) for $4 per share. The company expects to generate approximately $3.22 million in proceeds, assuming the underwriters do not exercise their over-allotment option.

Investing in Animation Production and Acquiring Overseas Copyrights

BloomZ plans to utilize the proceeds from the IPO for various purposes, including investing in animation production and acquiring overseas copyrights. The company also intends to expand its business through mergers, acquisitions, and alliances. Furthermore, strengthening its talent management division and supporting working capital needs are among the company's objectives.

Operations Conducted Through Subsidiary, BloomZ Japan

BloomZ conducts all of its operations through its subsidiary, BloomZ Japan. The company specializes in audio production for animation and video games, as well as managing "VTubers" - virtual characters created using motion-capture technology.

Listing on Nasdaq Capital Market

BloomZ has applied to list its shares on the Nasdaq Capital Market under the ticker symbol BLMZ.

Profit and Revenue Figures

In the fiscal year ended September 30, 2022, BloomZ reported a profit of $2,000 from $1.1 million in revenue.

Network 1 Financial Securities is expected to act as the sole underwriter for the offering.