Israeli Acoustic Tech Firm Seeks $15M IPO in New York
1 report, 1 independent
Updated Oct 8
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Silentium, an Israeli technology company, is pursuing a small Initial Public Offering in New York. The offering is set at $15 million, with a potential valuation reaching $44 million. The company, which develops acoustic solutions for car passengers, states that it is working directly with OEM manufacturers.
From globes.co.il
Why it matters
Silentium stated that it is dependent on raising external capital to continue as a going concern. The company's prospectus carries a going concern qualification, and its accumulated losses since founding total $80.3 million. This offering comes as the US primary market was described as tepid in the third quarter.
From globes.co.il
Who's involved
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The entities involved
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ThinkEquity
US investment banking firm
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