Israeli pipe flow technology developer Laminera Flow Optimization has filed to conduct at $17M initial public offering on the US market.
Laminera said in a filing that it plans to sell units, with each unit consisting of one share plus on warrant to buy one share. It didn’t specify the number and price of the units to be offered, but an attached filing fee schedule indicated it was looking to raised up to $17M through the unit sale and another $17M through the exercise of warrants included in the units.
The company hopes to list its shares on Nasdaq. Aegis Capital is serving as bookrunner on the deal.
Based in Israel, Laminera has developed a flow control device that can help reduce energy costs associated with the transportation of water, oil and gas. The company plans to initially target the water utility sector.
A development stage company, Laminera reported a net loss of $137k and no revenue for 2021.
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Image and article originally from seekingalpha.com. Read the original article here.