Bruush Oral Care, an online retailer of branded electric toothbrushes, raised $16 million by offering 3.7 million units at $4.16, below the range of $5.20 to $7.20. Each unit consists of one share of common stock and one warrant, exercisable at the IPO price. The company offered 1.3 million more units than anticipated (+51%), and the IPO raised about 1% more than expected.
Because the offering contained warrants and has a post-IPO market cap that is less than $50 million, Bruush Oral Care will be excluded from Renaissance Capital’s 2022 IPO stats.
<em><br /></em>Bruush Oral Care is an e-commerce business with a product portfolio that currently consists of a sonic-powered electric toothbrush kit and brush head refills. Its Brüush starter kit includes the Brüush electric toothbrush and related accessories, and brush head refills can be purchased on a subscription basis. Later this calendar year, Bruush plans to launch several new subscription-based consumable oral care products, including toothpaste, mouthwash, dental floss, a whitening pen, as well as an electric toothbrush for kids.<em/>
Bruush Oral Care plans to list on the Nasdaq on Wednesday under the symbol BRSH. Aegis Capital Corp. acted as sole bookrunner on the deal.
