Six15 Technologies has set the terms for its initial public offering of two million of its shares at $5 each.
The IPO will value the wearable technology company at $34.5 million as it debuts on the New York Stock Exchange under the ticker ‘SVX’.
Six15 designs, develops and makes head-up displays (HUDs) for sectors including defense and industry. The HUDs provide virtual screens so users have instant access to information throughout their operation, workflow, or experience, the company said in its prospectus.
The company is still running at a loss. For the six months ended June 30, 2023, it reported a net loss of $1.5 million on revenue of $277,071. That compares with a $2.1 million loss on revenue of $107,337 for the same period a year earlier.
ThinkEquity is the sole underwriter on the deal.
Contact the author at stephen.gunnion@proactiveinvestors.com