Australian edible gel maker Gelteq (GELS) has filed for a proposed $6.5M initial public offering in the US.
Gelteq said in a filing that it is looking to offer 1.3M shares at the assumed price of $5 per share, which would raise around $6.5M. Underwriters would be granted a 45-day option to buy up to 195K additional shares.
The company hopes to list its shares on Nasdaq under the symbol GELS. Boustead Securities is serving as lead bookrunner.
Based in South Melbourne, Gelteq develops edible gels for pharmaceutical, over-the-counter, petcare and nutraceutical products.
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