Autonomous Water-Vehicle Maker RanMarine Technology Announces IPO


Dutch autonomous water-vehicle manufacturer, RanMarine Technology, plans to conduct an initial public offering (IPO), aiming to sell 1.435 million units priced at $5.50 each. After deducting underwriting discounts and commissions totaling $7.26 million, the company intends to utilize the proceeds for various purposes including debt reduction, research and development, sales and marketing, and production.

RanMarine Technology focuses on the creation of autonomous robotic vessels designed to tackle environmental challenges, such as the removal of plastic pollutants, algae, biomass, and oil from bodies of water. By utilizing their advanced technology, the company strives to contribute towards a cleaner and healthier aquatic ecosystem.

The offering will consist of one American Depositary Share (ADS), along with one warrant to purchase an ADS and one non-tradable warrant to purchase an ADS. The company has submitted an application to list its depositary shares on the Nasdaq Capital Market, with the proposed ticker symbol RAN.

In its most recent financial report for 2022, RanMarine Technology reported a loss of 3.25 million euros ($3.58 million) on sales of 432,000 euros.

WallachBeth Capital has been appointed as the sole underwriter for the IPO.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

U.S. Stocks Face Potential Pullback as Wall Street Weighs Recent Drop

Next Post

Lions Gate Entertainment and Screaming Eagle Acquisition to Merge

Related Posts