Southeast Asia Market Advertising Platform Thoughtful Media Group (TMGX.US) IPO pricing at $4-5 per share, aiming to raise $6 million.

Focused on the Southeast Asian market, the internet celebrity advertising platform Thoughtful Media Group (TMGX.US) submitted its initial public offering (IPO) application to the US Securities and Exchange Commission (SEC) last Friday, with plans to raise $6 million. The company's business was spun off from Society Pass (SOPA.US) and is heading towards a new milestone. Based in Bangkok, Thailand, the company plans to issue 1.3 million shares at a price of $4 to $5 per share, raising a total of $6 million. Based on the midpoint of this price range, the fully diluted market value of Thoughtful Media Group will reach $77.6 million, with an enterprise value of $68.8 million. Thoughtful Media Group's business scope is extensive, connecting advertisers, brands, and merchants with over 10,000 internet celebrities, serving specific audiences in Thailand, Vietnam, Indonesia, and the Philippines. The company's services cover multi-channel networks, high-end advertising, social commerce, sports marketing (including esports), content creation and distribution (such as podcasts and movies), as well as verticals in music and entertainment. In the six months ending on June 30, 2024, the company achieved significant revenue growth, with a 19% increase, totaling $3 million. At the same time, the gross profit margin also significantly increased, expanding by 604 basis points to 25%. Adjusted EBITDA loss decreased by 7% to -$100,000, and the adjusted EBITDA profit margin increased by 103 basis points to -4%. Since its establishment in 2010, Thoughtful Media Group has steadily grown, with sales reaching $7 million in the past 12 months ending on June 30, 2024. The company is currently planning to list on the Nasdaq stock market under the ticker symbol TMGX. The joint bookrunners for this listing are Guotai Securities and Bancroft Capital.