TOKYO, Dec. 11, 2024 — MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM), a comprehensive healthcare provider operating over 300 wellness centers across Japan, today announced the completion of its public offering. The offering consisted of 2,860,000 American Depositary Shares priced at $1.75 per share, generating gross proceeds of approximately $5,000,000 before deducting underwriting fees and expenses. MEDIROM also granted underwriters a 45-day option to purchase up to an additional 429,000 American Depositary Shares to cover over-allotments at the public offering price, less the underwriting discount.
MEDIROM plans to allocate the proceeds to working capital and general corporate purposes, which may include investments, acquisitions, or strategic partnerships to expand its customer base and market new services.
ThinkEquity served as the sole book-running manager for the offering.
A registration statement on Form F-1 (File No. 333-281771) related to the shares was filed with, and declared effective by, the Securities and Exchange Commission (“SEC”) on December 9, 2024. This offering is available solely through a prospectus. Prospectuses can be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will any sale of these securities occur in any state or jurisdiction where such an offer, solicitation, or sale would be illegal before registration or qualification under the securities laws of that state or jurisdiction.
About MEDIROM Healthcare Technologies Inc.
MEDIROM is a holistic healthcare company operating over 300 wellness salons in Japan, with Re.Ra.Ku® as its flagship brand. The company also provides various healthcare services. In 2015, MEDIROM expanded into health technology, launching healthcare programs through its on-demand training app, “Lav®”. Entering the device market in 2020, MEDIROM developed the “MOTHER Bracelet®” smart tracker. In 2023, the company introduced REMONY, a remote monitoring system for corporate clients, securing orders from diverse sectors, including healthcare, transportation, construction, and manufacturing. MEDIROM aims to leverage its diverse offerings to collect and manage user healthcare data, striving for leadership in healthcare big data. For more information, visit .
Forward-Looking Statements Regarding MEDIROM
Certain statements in this release are forward-looking statements under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may include estimates or expectations regarding MEDIROM’s operational results, financial condition, strategies, market opportunities, competitive standing, industry context, and growth potential. Forward-looking statements often include words like “may,” “will,” “should,” “design,” “target,” “aim,” “hope,” “expect,” “could,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “continue,” “predict,” “project,” “potential,” “goal,” or similar terms conveying future uncertainty. These statements relate to future events or MEDIROM’s financial performance and involve known and unknown risks, uncertainties, and factors potentially impacting MEDIROM’s actual results. Do not over-rely on forward-looking statements due to inherent risks and uncertainties, some beyond MEDIROM’s control. Any forward-looking statement reflects MEDIROM’s current view of future events and is subject to risks, uncertainties, and assumptions concerning operations, results, growth, and liquidity.
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