IPO UPDATE
As mentioned in our previous communication, our auditor completed their 2023 and YTD 2024 September reviews, granting consent for us to proceed with filing the S-1 with the SEC. Since then, the following milestones have been achieved:
- January 8, 2025: We publicly filed the S-1 with the SEC.
- January 28, 2025: We filed an amendment addressing specific SEC comments.
- February 10, 2025: Another amendment was submitted to address additional SEC comments.
- February 11, 2025: We filed yet another amendment.
- February 12, 2025: Two more filings were submitted, including the Free Writing Prospectus (FWP).
- February 13-14, 2025: Additional amendments were made to ensure compliance with SEC requirements.
As you can see from the rapid and consistent filings, our team has worked tirelessly to meet the February 14, 2025 effective deadline. Despite this incredible effort, two minor SEC comments remain—requiring us to refile using full-year 2024 audited financials.
The next step is to update the S-1 with our full-year 2024 audited financials, and we’re actively working with our auditor, TAAD, to finalize this. You can view the most recent public filing here:
SEC.gov Functional Brands - Public Filing
While this may seem like a minor setback, the good news is that we’ve already addressed the outstanding comments. Updating the financials should be a straightforward process, and we’re working diligently to complete the refiling. At the same time, we’re progressing with the listing process and NASDAQ’s requirements.
On the business front, CEO Eric Gripengtrog had the privilege of attending a groundbreaking summit on February 14-15, 2025, with key leaders from major women’s health organizations. These included representatives from:
- ACOG (American College of Obstetricians and Gynecologists)
- FIGO (International Federation of Gynecology and Obstetrics)
- AWHONN (Association of Women’s Health, Obstetric and Neonatal Nurses)
- WHNP (National Association of Nurse Practitioners in Women’s Health)
- NACPM (National Association of Certified Professional Midwives)
The focus of this summit was to share critical, science-backed research regarding the harmful effects of environmental toxicants and heavy metals on both mothers and fetuses, particularly prior to and during pregnancy. This represents a significant opportunity for Functional Brands Inc., as we are the only company offering a certified prenatal supplement that fully aligns with the FIGO position statement and testing standards.
Moreover, our products align perfectly with the February 13, 2025, Presidential Executive Order aimed at Making America Healthy Again, further reinforcing our market position.
We remain deeply grateful for your continued trust, investment, and support throughout our journey to the IPO. To express our appreciation, please enjoy 25% off your next order with us:
