Zerospo (ZRSP), an operator of medical spas in Japan, has set terms for a proposed $17M US initial public offering.

The Japanese company said in a filing that it is looking at offering 3.75M shares priced between $4 and $5, which would raise around $17M if priced at the midpoint. Underwriters would be granted a 45-day option to buy up to 563K additional shares to cover over-allotments.

Zerospo hopes to list its shares on Nasdaq under the symbol ZRSP. Boustead Securities is serving as lead bookrunner on the deal.

Based in Tokyo, Zerospo owns and develops medical and relaxation salons. The company had 49 salons in the metropolitan Tokyo area as of the end of October 2022 and is looking to expand into additional markets in Asia.

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