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THRIVE intends to apply for IPO with Nasdaq

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THRIVE intends to apply for IPO with Nasdaq

June 26
00:18 2021

Thrive recently submitted IPO documents to the US Securities and Exchange Commission (SEC). It is said that the preliminary review of the NASDAQ ipo listing has been passed, and it is expected to be officially listed on the Nasdaq Stock Exchange under the stock code “TR” after Christmas. The underwriters of this IPO include Goldman Sachs Capital, Roth Capital, Silver Brokers, EF Hutto.

  

THRIVE is an intelligent cloud warehouse logistics company. It started its formal operation in 2013. The first phase of the cloud warehouse built in India in 2021 was a big success, and the second phase of the warehouse will also be completed in November 2021.

  

According to the prospectus, THRIVE is an intelligent unmanned warehouse logistics platform based on 5G technology. Through the interactive operation of users, drones, warehouses, and three-party cloud, it creates value for millions of users.

 

According to internal senior management leo, the funds of all Thrive users have been transferred to the foundation for overall calculation to ensure that the audit firm and financial reports pass the PCAOB review to complete the smooth listing.So now all funds are temporarily in a closed period, Thrive said that it plans to give a certain percentage of share dividends based on all funds in the customer’s current capital account within 30 days.

In other words, every money earned in Thrive will be converted into shares within these 30 days, and finally all users will receive a certain percentage of Thrive share dividends based on the total account amount.

  

The THRIVE prospectus shows that in the past two fiscal years of 2019 and 2020 (the end of the fiscal year is June 30 of each year) and the first half of 2020 (the end of the year is December 31 of each year), the income of thrive They were 122 million, 79 million and 96 million U.S. dollars, respectively, and the corresponding net profits were 40.205 million, 17.283 million, and 18.963 million U.S. dollars, respectively.

  

Therefore, after the calculation of THRIVE share dividends is completed, the user’s current funds may increase by more than 5 to 10 times.

At the same time, the internal financial director of THRIVE said that after the calculation of the equity division, the company will directly send the share details to users through the Thrive platform. At that time, users can apply for withdrawal, or continue to work! The completion of the listing will realize the distribution of equity dividends according to the user’s funds in the first time.

  

The second phase of the Thtive Smart Cloud Warehouse India warehouse base has been launched one after another, and the purchasing department has also introduced the latest batch of intelligent handling drones from the US Star ROT company. The new warehouse base will be put into operation next, which is expected to be Thrive In the second half of the quarter, revenue will increase by 1.5 times. As more and more people participate in the market, smart cloud warehouses will be an irreplaceable trend.

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