Israeli video technology provider Beamr Imaging (BMR) has updated terms for its proposed $15M US initial public offering.
Beamr said in a filing that it now is seeking to offer 3M shares priced at $5 per share, which would raise $15M. Underwriters will be granted a 45-day option to buy up to 450K additional shares.
The video tech company hopes to list its shares on Nasdaq under the symbol BMR. Think Equity is serving as lead bookrunner.
Beamr is a provider of technology solutions for video encoding, transcoding and optimization. Its clients include video streaming platforms and Hollywood studios. For 2021, the company reported a net loss of $952K on revenue of $3.3M.
In July filing, Beamr said that it was looking to offer 1.4M shares priced between $10 and $12 per share, which would have raised $15M if priced at the midpoint.
For a more in-depth look at Beamr, check out SA contributor Donovan Jones’s “Beamr Imaging Aims for $15 Million US IPO”.