Credit: Shutterstock photoSoliton, which is developing a medical device for tattoo removal, raised $10.9 million by offering 2.2 million shares at $5. At offering, Soliton commanded a fully diluted market value of $86 million.
Soliton has been on file for a Regulation A+ IPO since June 2018, when the company filed to raise between $5 million and $15 million by offering shares at $5 apiece in a min-max, best-efforts offering. As such, Renaissance Capital does not include Soliton in our 2019 IPO stats.
Soliton began trading on the Nasdaq on Tuesday under the symbol SOLY, the first Reg A+ IPO on the Nasdaq or NYSE in over a year. Boustead Securities acted as sole underwriter on the deal.
The article Pre-revenue device company Soliton prices $11 million Reg A+ IPO at $5 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
