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Australian body imaging software firm Advanced Human Imaging sets terms for $15 million US IPO

October 19, 2021

Advanced Human Imaging, which provides software that measures human body dimensions using a smartphone, announced terms for its IPO on Tuesday. The company is currently listed on the Australian Securities Exchange (AHI).

The South Perth, Australia-based company plans to raise $15 million by offering 1.9 million ADSs at a price range of $7 to $9. At the midpoint of the proposed range, Advanced Human Imaging would command a fully diluted market value of $137 million.

Advanced Human Imaging provides a proprietary measurement and dimensioning technology that enables a smartphone user to assess and track their body dimensions. It sells its physical measurement and analytics tool, BodyScan, as a software development kit that can be embedded within software programs and apps. The company's customers include businesses in telehealth, wellness, life and health insurance, fitness, and consumer and apparel.

Advanced Human Imaging was founded in 2013 and booked $1 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol AHI. Maxim Group LLC is the sole bookrunner on the deal.