SOS Hydration (SOSH), a marketer of low-sugar sports drinks, is seeking to raise around $7.5M through an initial public offering.
The hydration beverage company filed an amended S-1 to offer 1.4M units priced in the range of $4.50 to $6.50. If priced at the range midpoint of $5.50, the company would raise approximately $7.5M. Each unit will consist of one share plus one warrant to buy one share at the public price.
Underwriters will be granted a 45-day option to buy up to 205k additional shares and/or warrants to buy shares at the public price. Maxim Group is serving as sole bookrunner on the deal.
SOS hopes to list its shares on Nasdaq under the symbol SOSH. The company first filed for an IPO in January.
Based in Colorado, SOS has developed a line of electrolyte replacement beverages that are lower in sugar than many leading sports drinks. The company also markets a sports drink product aimed at kids that features characters from the Nickelodeon show “Paw Patrol.” SOS drinks are currently sold at Walmart, CVS, Kroger and Whole Foods.
For the year 2021, SOS reported a net loss of $7.1M on revenue of $3.7M.
For a more in-depth look at SOS Hydration, check out SA contributor Donovan Jones’s “SOS Hydration Aims for IPO to Fund Expansion Plans”.