Beijing-based online retailer LightInTheBox has set its IPO terms in a filing to the U.S. Securities and Exchange Commission on Thursday, as it moves closer to becoming the first Chinese company to list in the U.S. this year.

The firm will offer 8.3 million American Depositary Shares in the IPO, and has set a guidance of $8.50-$10.50 per ADS, which could see it raise up to $87 million. At the midpoint price of $9.50 per ADS, however, the firm will only raise $79 million. LightInTheBox had in April filed for an IPO with a proposed deal size of $86 million.

It plans to list on the NYSE under the symbol LITB. The deal is reportedly scheduled to price on June 5 and the company is expected to start trading on June 6.

Reuters says there has been a two-year listings lull after a series of accounting scandals and fraud allegations, with only 17 Chinese companies joining U.S. stock markets compared with 41 in 2010 alone.

LightInTheBox said it plans to use proceeds from the IPO to invest in technology infrastructure, expand its product offerings, build up its customer base, pay debt and for other general corporate purposes. It recorded $73.3 million in net revenue for the three months ended March 31, 2013, almost double the figure from the first quarter of 2012, which stood at $36.9 million.

LightInTheBox offers lifestyle products for sale on its site, including items for home improvement, fashion and electronics. It was founded in June 2007 and primarily conducts its operations through its Hong Kong subsidiary, Light In The Box Limited and subsidiary in mainland China, Lanting Jishi. The number of its customers had increased from about 36,000 in 2008 to around 2.5 million in 2012.

Headline image via Thinkstock