Majestic Ideal Holdings (MJID) filed for an initial public offering of 2.5 million common shares priced at $6 to $7 apiece.

Underwriters will be granted a 45-day option to purchase up to 375,000 additional shares, the company said Monday in a regulatory filing.

The company applied for a Nasdaq Capital Market listing with the ticker symbol MJID.

Net proceeds from the offering will be used partly to procure raw materials, broaden the customer base and enhance supply chain capabilities, the company said.

Certain investors plan to resell 1.7 million shares, and Majestic Ideal won't receive any proceeds from the sales, according to the filing.