Sondors Inc. Cuts Expected IPO Price to $6-$8/Share From $8-$10
marketwatch
07 Feb 2023
By Colin Kellaher
Sondors Inc. on Tuesday reduced the expected price range of its planned initial public offering of 2.5 million to shares to $6 to $8 each from a previous target of $8 to $10 apiece.
At the $7 midpoint of the new price range, the Malibu, Calif., maker of electric bicycles and motorcycles, said it expects net proceeds of about $15.2 million, or roughly $17.7 million if the underwriters exercise an option to buy an additional 375,000 shares.
Sondors said it plans to list its shares on the Nasdaq Capital Market under the symbol SODR.
Write to Colin Kellaher at colin.kellaher@wsj.com
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