Significant increase in investment just before US IPO: Japanese recycling company Seahawk (SEAH.US) increased its offering size by 67% on the eve of its IPO, aiming to raise $31 million.

Japanese paper and scrap metal recycling service provider Seahawk Recycling Holdings (SEAH.US) raised the planned issuance size of its upcoming initial public offering (IPO) in the United States last Friday. The Tokyo-based company now plans to raise approximately $31 million by issuing 6.3 million shares at a price range of $4 to $6 per share. Previously, the company had filed to issue 3.8 million shares at the same price range, with the initial filing size being 2 million shares. Based on the revised issuance size, Seahawk Recycling Holdings' fundraising amount will increase by 67% from the previous expectation, with a corresponding market value of approximately $149 million, 9% higher than the original terms. The company provides recycling services in Japan, primarily in two main sectors: scrap metal recycling (accounting for 70% of revenue in the 2025 fiscal year): purchasing scrap metal from recycling companies and supplying them to smelters or trading companies; and paper recycling (27%): purchasing scrap paper and supplying it to pulp mills and trading companies. The company's recycled products are sold in Japan and throughout the Asia-Pacific region. Seahawk Recycling Holdings was founded in 2013 and generated revenue of $83 million in the 12 months ending September 30, 2025. The company plans to list on the Nasdaq under the ticker symbol SEAH. The exclusive bookrunner for this issuance is Guotai Junan Securities.