The vaping company is going public.

SHENZHEN — Renaissance Capital published a wire report with NASDAQ that Chinese vaping brand Aspire Global is preparing to go for an initial public offering (IPO) in the United States for a valuation of $120 million.

According to the wire report, Aspire is setting the terms for the IPO and is expected in the coming weeks for a new release. Aspire intends to raise $120 million by offering 15 million shares at a price range of $7 to $9 per share. The midpoint of the proposed ranges would command a market value of at least $1.3 billion.

“Aspire is a vertically integrated provider of e-cigarette vaporizing technology,” adds Renaissance Capital. “Its tobacco vaping products are sold through a distribution network of more than 150 distributors in 30 countries. In December 2020, the company also commenced the marketing of cannabis vaping technology products in the US.”

Aspire was founded in 2010 and sold $82 million in sales for the 12-month term ending on December 31, 2020. NASDAQ is expected to be the home base for the company under the ticker ASPG. Tiger Brokers, EF Hutton, TF International, and China Merchants Securities are the joint bookrunners on the deal, notes the press statement about the IPO.

It was announced in June of 2021 that Aspire filed with the U.S. Securities and Exchange Commission (SEC), the federal government’s Wall Street regulator, for $161 million. This valuation, however, has changed as it appears.

Upon reviewing the product distribution scheme, Aspire sells its products in over 21 countries — including Holland, Germany, South Korea, Romania, Poland, the United States of America, Canada, the United Kingdom, France, Ireland, Spain, and elsewhere.

Aspire is also working vigorously to comply with the Premarket Tobacco Applications (PMTA) regulatory pathway mandated by the United States Food and Drug Administration.

“FDA wants all tobacco and new tobacco products sold in the US market to be regulated to ensure safety and security for both manufacturers and consumers of these products, as well as the protection of the public health as a whole,” the company reports.

Vaping Post is tracking this story moving forward.

Chinese Vape Company Going For US IPO

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