ismagilov
Israeli pipe flow technology developer Laminera Flow Optimization (LMIN) has set terms for a proposed $8M US initial public offering.
Laminera said in a filing that it is planning to offer 1.6M units priced between $4.25 and $6.25 per unit, which would raise around $8M if priced at the midpoint. Each unit would consist of one ordinary share plus two warrants to buy one share apiece at $5 per share.
The company is also offering pre-funded warrants to buyers who would own at least 4.99% of its outstanding ordinary stock after the offering.
Laminera hopes to list its shares on Nasdaq under the symbol LMIN. Aegis Capital is serving as sole bookrunner.
Based in Israel, Laminera has developed a flow control device that can help reduce energy costs associated with the transportation of water, oil or gas through pipe systems.
Luminera first filed for an IPO in August, indicating its was looking to raise around $17M from the sale of units and another $17M through the exercise of warrants included in the units.
For more on Luminera, check out SA contributor Donovan Jones’s “Luminera Readies $8M US IPO.”
