iPower is preparing to start trading shares of its common stock with an initial public offering (IPO).
Here’s everything investors interested in the iPower IPO need to know.
- The company intends to list its shares on the Nasdaq Exchange under the IPW stock ticker.
- The IPO has it pricing shares of its stock between $7 and $9 each.
- That’s lower than its previously-expected IPO price of $9 to $11 per share.
- It also has iPower planning to offer up a total of 3 million shares in the IPO.
- That’s smaller than its previous plan to sell 5 million shares of IPW stock in the offering.
- There’s also a 45-day option for underwriters to acquire an additional 450,000 shares at the IPO price.
- Its previous IPO plan would have included 750,000 shares for underwriters of the IPO.
- This has the company set to gain as much as $31.05 million from the offering.
- It’s worth pointing out that the company has 21,604,496 shares of outstanding stock.
- Currently, the company’s two founders own 16,046,668 shares.
- That has them owning a 74.3% stake in the company.
- That stake will drop down to 62.5% once the iPower IPO is complete.
- There still isn’t a date for the IPO yet but it should be coming soon.
- iPower is a seller of hydroponics equipment online, locally, and internationally.
- The company is based out of California but operates around the world.
- The reduced IPO price and offering could signal a lack of demand for IPW stock before it ever starts trading.
- That could be bad news for the stock when the IPO launches.
- Investors might see IPW shares take quite a beating when they do start trading publicly.
Investors that are looking to dive into other IPO news can keep reading.
Several other companies have been making the rounds with IPO news. That includes Honest Company (NASDAQ:HNST), Alfi (NASDAQ:ALF), and Coinbase (NASDAQ:COIN). You can learn all about these at the links below.
More IPO News
- Honest Company IPO: When Is Honest Company Going Public? What Is the HNST Stock Price Range?
- Alfi IPO: 14 Things for Potential ALF Stock Investors to Know Now That Shares Are Trading
- Coinbase: Three Weeks After Its IPO, Is It a $400 or $200 Stock?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.