Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Today’s IPO for Yoshitsu Co., Ltd (NASDAQ: TKLF) opened for trading earlier at $40.99 after pricing 6,250,000 American Depositary Shares at $4 per ADS. Shares last traded at $25.98, up 550%.
The Offering was conducted on a firm commitment basis. Univest Securities, LLC acted as the sole book runner and Valuable Capital Ltd. acted as a co-manager to the Offering. Hunter Taubman Fischer & Li LLC acted as counsel to the Company, and Sullivan & Worcester LLP acted as counsel to the underwriters in connection with the Offering.
Headquartered in Tokyo, Japan, Yoshitsu Co., Ltd is a retailer and wholesaler of Japanese beauty and health products, as well as other products. The Company offers approximately 12,400 stock keeping units (“SKUs”) of beauty products, including cosmetics, skin care, fragrance, and body care, among others, 3,600 SKUs of health products, including over-the-counter drugs, nutritional supplements, and medical supplies and devices, and 7,900 SKUs of other products, including home goods, food, and alcoholic beverages. The Company currently sells its products through directly-operated physical stores, through online stores, and to franchise stores and wholesale customers.