Software Developer T1V files for $17M IPO

by

T1V (THNK), a visual collaboration software developer, has filed for a $17 million initial public offering.

According to a filing, the software company intends to sell 3.2 million units at prices ranging from $4.15 to $6.15, raising close to $17 million if priced at the midpoint. Each unit would include one share and one warrant to purchase one share at 110% of the IPO price.

To cover over-allotments, underwriters would be given a 45-day option to purchase up to 481K additional shares and/or warrants. EF Hutton is the sole bookrunner.

A 25-for-1 stock split is also planned ahead of the transaction. T1V intends to list its stock on the Nasdaq under the symbol THNK.

T1V, based in Charlotte, North Carolina, creates visual collaborative systems that allow multiple users to contribute or edit content on a shared canvas from different locations. ThinkHub Room and ThinkHub Cloud are the company’s main products.

T1V has been running at a loss. The company reported a net loss of $3.6 million on revenue of $11.1 million for the nine-month period ended September 30.

Meanwhile, shares of enterprise software developers fell Wednesday after Microsoft (MSFT) issued a lower-than-expected forecast for its Azure cloud computing business.

Related Stories

Latest News Stories