Maverick Lifestyle, which sells branded hemp-based smokables and related products, raised the size of its IPO scheduled for Monday.
The Stantonsburg, North Carolina-based company currently plans to raise $6 million by offering 1.2 million shares at a price range of $4.50 to $5. The company had previously filed to offer 800,000 shares at a price range of $4.50 to $5.50. At the midpoint of the revised range, Maverick Lifestyle is expected to raise 45% more than previously expected and have a fully diluted market value of $55 million.
Maverick Lifestyle is primarily engaged in the manufacturing, branding, marketing, distribution and sale of hemp-derived cannabinoid products. The company currently has five brands in its portfolio: DVNT (Deviant), STAR USA, BLAZ, Green & Wild, and 2sies. Current products include pre-rolled hemp joints and hemp cigarettes, hemp cigarillos, blunts, disposable vapes, gummies, and puffball edibles, all of which are Farm Bill compliant with less than 0.3% Delta-9 THC. Masu.
Maverick Lifestyle was founded in 2019 and had sales of $3 million for the 12 months ended June 30, 2024. The company plans to list on Nasdaq under the symbol MVRK. Mr. Joseph Gunnar is the sole manager of the transaction.
