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Medical device maker Marizyme (OTCQB:MRZM) has downsized a proposed initial public offering on Nasdaq to $10M from $15M.
In a recent filing, Marizyme said it is now looking to offer 1.4M units priced between $6 and $8. Each unit would consist of one share plus two warrants to buy one share apiece. Underwriters would receive a 45-day option to buy up to 15% of the units sold at the IPO price to cover any over-allotments.
Marizyme also hopes to uplist its shares to Nasdaq under the symbol MRZM. Its shares currently trade OTC under the same symbol.
The company is developing devices for vascular grafting, kidney disease screening, and pet dental care. For 2021, Marizyme reported a net loss of $11M on revenue of $210K.
In February, Marizyme filed to uplist its shares and raise around $15M.
Image and article originally from seekingalpha.com. Read the original article here.