PishPosh, Inc. Announces Postponement of its Initial Public Offering

Rhea-AI Summary

PishPosh, Inc. (NASDAQ: BABY), an online retailer of premium baby products, announced the postponement of its previously planned underwritten public offering originally priced on March 7, 2023. The shares were supposed to begin trading on the Nasdaq Capital Market on March 8, 2023, with the offering's closure expected around March 10, 2023. The company aims to defer the IPO for a later date, focusing on its growth strategy in the meantime. PishPosh has established itself as a prominent e-commerce platform since its founding in 2015, catering mainly to middle- and upper-class mothers.

Positive

• PishPosh has built a strong customer base since 2015, showcasing its potential for growth in the premium baby products market.

Negative

• The postponement of the IPO may lead to uncertainty among investors and delay access to essential capital.
• The postponement could create negative market sentiment regarding the company's financial strategy.

LAKEWOOD, N.J., March 9, 2023 /PRNewswire/ -- PishPosh, Inc. (NASDAQ: BABY) ("PishPosh" or the "Company"), a rapidly growing online retailer of premium baby products, announced today that it was advised by Boustead Securities, LLC ("Boustead"), the Company's lead underwriter, that Boustead was postponing the Company's previously-announced underwritten public offering that priced on March 7, 2023. The Company's shares of common stock were expected to begin trading on Nasdaq Capital Market on March 8, 2023, under the symbol "BABY." The initial public offering was expected to close on or about March 10, 2023.

The Company's management intends to continue to focus on pursing its initial public offering at a later date.

About PishPosh

PishPosh is a rapidly growing online retailer of premium baby products. Based on our experience in the industry, we believe that, since its founding in 2015, PishPosh has established itself as a leading e-commerce platform with an extraordinarily engaged customer base of middle- and upper-class mothers. PishPosh distinguishes itself by offering new and unique brands/products that inspire moms to shop.  We are primarily a baby gear distributor based in Lakewood, New Jersey. We showcase and sell our products through our showroom boutique and our website, www.pishposhbaby.com, third party marketplaces like Amazon.com and our boutique (on site).

Learn more at www.pishposhbaby.com

Cautionary Note Concerning Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including with respect to the proposed offering. No assurance can be given that the underwriters will exercise their overallotment option. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in PishPosh's filings with the SEC. PishPosh's filings can be obtained free of charge on the SEC's website at www.sec.gov. Except to the extent required by law, PishPosh expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in PishPosh's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

View original content:https://www.prnewswire.com/news-releases/pishposh-inc-announces-postponement-of-its-initial-public-offering-301768070.html

SOURCE PishPosh, Inc.

FAQ

Why did PishPosh postpone its public offering?

PishPosh postponed its public offering to focus on strategic growth and will pursue the IPO at a later date.

What was the date of PishPosh's planned IPO?

PishPosh's planned IPO was set for closure on or about March 10, 2023.

What is the stock symbol for PishPosh?

The stock symbol for PishPosh is BABY.

What impact does the IPO postponement have on PishPosh's investors?

The postponement may create uncertainty and delay potential capital inflow, affecting investor sentiment.