Martial arts and combat sport program provider Alta Global Group sets terms for IPO in the USA

Alta Global Group, the Manly, NSW-based technology company focused on the mixed martial arts and combat sports industry, has announced that it has set the terms with the US Securities and Exchange Commission for a US$10 million initial public offering.

The company plans to raise US$10 million by offering two million shares at a price range of US$4 to US$6 with analysts suggesting that at the midpoint of the proposed range it would command a fully diluted market value of $61 million.

Founded at Wimp2Warrior in 2103 but rebranded in 2022, Alta offers a platform for martial arts and combat sports, featuring four core products: the Warrior Training Program, UFC Fight Fit Program, Alta Academy and the Alta Community with its major focus having previously been on monetising its Warrior Training Program.

Alta's partner gym communities include martial arts and combat sports gym operations that span a range of training disciplines with it running over 206 programs globally - with over 5,100 participants have subscribed to its Warrior Training Program - since 2018.

Alta said it expects to use proceeds from the offering to further advance and protect its intellectual property, to further product development, and to scale up the platform growth and marketing functions of its business.

In the 12 months to 30th June, the company generated $1 million in revenue for the 12 months.

Since then, it acquired fitness app Steppen - a technology-driven app that enables mixed martial arts (MMA) gyms, coaches and participants to foster deeper connections - MMA community platform The Underground.

It plans to list on the New York Stock Exchange under the symbol MMA.