Papa Medical, Inc., a Cayman Islands–incorporated company and pioneering provider of innovative Hemp dosing solutions, has filed to go public on the NASDAQ under the ticker symbol PAPA. The company is seeking to raise approximately $5 million through the sale of 1.3 million shares at a price of $4.00 per share, giving the company an estimated market capitalization of $85 million.
Company Overview
Founded in 2018, Papa Medical has established itself as a leader in the Hemp cannabinoid E-vapors industry. Headquartered in City of Industry, California, the company employs 47 people and provides end-to-end solutions ranging from research and development to formulation, e-liquid production, co-packing, and brand operations.
The company’s core offerings include:
- Hemp cannabinoid e-vapors marketed under the Cannapresso brand.
- ODM (Original Design Manufacturer) services for other Hemp vapor companies, tailoring products to client specifications.
- Innovative technologies such as AiMesh® for precise dosing control and feelmixX® for advanced aroma molecule blending, combining traditional CBD oils with modern e-vapor oils.
This full-cycle operational model allows Papa Medical to quickly adapt to market demand while improving efficiency and maintaining high-quality standards.
Financial Highlights
For the 12 months ended March 31, 2025, Papa Medical reported:
- Revenue: $46.97 million
- Net Income: $1.34 million
- Market Cap (post-IPO): $85 million
While revenues remain strong, the modest profitability highlights both the opportunities and risks of investing in an emerging sector like Hemp cannabinoids.
IPO Details
- Symbol: PAPA
- Exchange: NASDAQ
- Shares Offered: 1.3 million
- Price Range: $4.00 per share
- Estimated Volume: $5.0 million
- Underwriters: US Tiger Securities and TFI Securities (Joint Managers)
- Expected Trading Date: Week of August 18, 2025
The IPO proceeds are expected to strengthen the company’s balance sheet and fund expansion efforts as demand for Hemp-based wellness and relief products continues to grow across the U.S.
Outlook for Investors
Papa Medical operates in the fast-growing cannabinoid Hemp market, which is increasingly recognized for its potential in pain relief, anxiety reduction, and wellness applications. With its proprietary technologies and established Cannapresso brand, Papa Medical is positioning itself as a key player in this evolving space.
Investors should note the relatively small IPO size and early-stage profitability, which could mean higher volatility. However, the company’s growth trajectory, innovative solutions, and strong ODM partnerships may appeal to those seeking exposure to the rapidly expanding Hemp vapor industry.
