Ispire Technology Inc. submitted a prospectus to the SEC to apply for listing on NASDAQ in the United States, with the stock code ISPR, and is expected to become the first CBD atomizer in the US stock market.

Ispire was registered and established in Delaware, USA. It is a R&D-driven atomization technology solution provider. Its business mainly includes two major segments: CBD atomization equipment, open atomization equipment and components.

Among them, CBD atomization equipment is sold under the ISPIRE brand, mainly in the form of ODM. The sales area is mainly concentrated in the United States, and has recently begun to expand to Canada and Europe.

Inspire Technology Inc. plans to raise about $42 million in an upcoming initial public offering.

The funds raised from this issuance will be used to complete the investment and construction of production lines in Vietnam and California, which will greatly increase the company’s production capacity and further enhance profitability; The third is to further strengthen the construction of the global terminal channel network of its own brand.

Inspire Technology Inc. plans to sell 6 million shares on Nasdaq under the symbol ISPR at a price of $6 to $8 each, according to a filing. With 56 million shares outstanding, the company would have a market capitalization of $392 million.

Tiger Securities, TFI Securities and SPDB International are underwriting the IPO, which comes amid a slowdown in new share issuance.

Inspire Technology reported revenue of $68.1 million for the year ended June 30, 2022, compared to $61.27 million for the same period last year.

In the 2022 fiscal year, Ispire's total sales revenue will be US$88.095 million, a year-on-year increase of 38.9%. Among them, in the 2021-2022 fiscal year, the revenue of the CBD atomization segment will increase from US$2.144 million to US$19.978 million, a year-on-year increase of 831.8%. Revenue from the atomization equipment and components segment increased from US$61.271 million to US$68.117 million, a year-on-year increase of 11.2%. Among the two major business lines, the revenue of the CBD atomization segment accounted for about 22.7% in fiscal year 2022, a year-on-year increase of 19.3 percentage points.

Inspire Tech has two operating units - Aspire North America LLC, a California limited liability company and Aspire Science and Technology Ltd., a Hong Kong corporation.

The company's core management has been deeply involved in the industry for many years and has rich experience. Many senior executives have rich experience and resources in the CBD industry.

The company's CFO Michael Wang once served as the CEO of The Pharm/Sunday Goods, a leading industrial hemp vertically integrated supplier in the United States, and has rich industrial hemp industry chain resources.

Company COO Tirdad Rouhani once served as the chief operating officer of the largest industrial hemp extraction laboratory in California, USA.

Localized team building makes the company forward-looking in technology development and strategic planning, helping the company become a leader in the development of the CBD atomization industry.

At the same time, the company has a global development platform, which can find and attract outstanding talents from all over the world.

Inspire Tech said it plans to start manufacturing operations in Vietnam and California.

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