RanMarine Technology BV (RAN) plans to raise $8 million in an IPO on Friday, April 19, IPO Scoop reports. The company will issue 1.4 million shares at $5.50 per share.
Last year, RanMarine Technology BV had revenue of $610,000 and a net loss of $5.8 million. The company's market capitalization is $60.6 million.
WallachBeth Capital LLC and Craft Capital acted as underwriters for the IPO.
RanMarine Technology BV describes itself regarding the IPO: “We are an early-stage cleantech company that designs, manufactures, and sells autonomous surface vessels (ASVs), also known as underwater drones. (Incorporated in the Netherlands) Our mission is to provide a robotic container for the recovery of harmful plastic pollutants, algae/biomass, and oil from water while collecting data from the marine environment through autonomous electric vessels. Our data-driven autonomous technology and patent-protected devices help clean and monitor shared water with zero emissions. Our aquatic drones (ASVs) clean the surfaces of waterways, canal systems, lakes, ponds, rivers, and ports. Our ASVs capture real-time quality data while working. , we help our customers make informed decisions about the quality of the water in which they operate. We focus on so-called “source” pollution. Focusing on where the majority of airborne pollution comes from, reducing the pollution that ends up in the ocean. Just as we vacuum and clean our homes before they build up, RanMarine efficiently and continuously 'vacuums' our waterways, using automated technology to remove waste and pollution. We want to keep the buildup to a minimum. Our underwater drones are designed to be used manually by land-based operators or autonomously with online control and access. Our underwater drone products include WasteShark, which was introduced in 2017. Our product plans further include his three underwater drones, MegaShark in Q4 2023, TenderShark and OilShark in 2024. Our docking and transportation products include SharkSlider and SharkCage, as well as SharkRamp scheduled for release in Q4 2023 and SharkPod in 2024. Our aquatic drones can be leased or purchased. We sell our aquatic drones to businesses such as hotels and marinas. Our customers include Walt Disney, Universal, Hudson River Park, UK Babcock Maritime Naval Base, Port of Houston, City of Rotterdam, Waterways Ireland Dublin, and Isle Utilities Pty Ltd (Asia Pacific). *Note: Net loss and revenue figures are expressed in US dollars (converted from euros) for the twelve months ended June 30, 2023. (Note: RanMarine Technology BV has changed its IPO structure to a unit offering of ADS (American Depositary Shares). In its F-1/A filing dated December 21, 2023, RanMarine Technology BV has changed its IPO structure to a unit offering of ADS (American Depositary Shares). Appointed two joint bookrunners in place of the original sole bookrunner, Aegis Capital, Inc. (1,435,000 units) – one ADS, one tradeable warrant and one non-tradable warrant each. The proposed IPO price is $5.50 per unit and will raise $7.89 million, consisting of tradable warrants and the proposed stock symbol “RAN”, the prospectus states. This is listed on Nasdaq. Each ADS represents one common share. Background: American Depositary Shares (ADS) beginning with F-1 on July 11, 2023. (Note: RanMarine Technology's IPO is tentatively scheduled for March 22, 2024. Neither the terms, nor the number of ADSs, nor the proposed price range were disclosed. (Note: RanMarine Technology BV filed for F-1 on July 11, 2023. The timing is subject to change.) , filed confidential IPO documents with the SEC on December 1, 2022).
RanMarine Technology BV was founded in 2016 and has 30 employees. The company is located at GalileĂŻstraat 15, 3029AL Rotterdam, The Netherlands Telephone: +31 6 16952175The Netherlands and can be contacted by telephone at +31 6 16952175 or on the web at https://www.ranmarine.io/.
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