Maris-Tech Reports IPO Price Of About 4 Million Shares

Maris-Tech is a company that provides video surveillance and streaming solutions and video encoding and decoding platforms mainly to military units and communications companies. According to the company’s corporate deck, its goal is to become one of the top 5 video analytics companies worldwide. Its regular customers include Mobilicom, FlyAbility, Elbit Systems, and MeproLight. Maris-Tech’s stock, MTEK, was listed on the Nasdaq at $3.12 two days ago. Yesterday morning the stock price peaked at $3.34 and the last trading session was closed at $2.59. In the premarket, the worth surged 10% to $2.86.

The initial public offering price of 3,700,477 common units and pre-funded units was announced at $4.20 each. Each pre-funded unit contains a fully funded warrant to acquire one ordinary share for 0.001$ and a warrant to purchase a similar share for $5.25, whereas each common unit contains one ordinary share and a warrant to purchase a similar share for $5.25. Expected gross revenue is over $15 million including rebates, expenses, and commissions. This offer is going to be closed on February 4, 2022, if the closing conditions are met.